It is early January and time for my annual look ahead. The working title for this piece is always “Fearless Forecasts” but this year I am rather fearful.
Colombia has done little exploratory activity in recent years due to the oil crisis, insecurity and social conflict. However, the country must improve on this issue as soon as possible to resolve concerns about self-sufficiency.
The boom of anti-oil referendums in producing regions keeps generating concerns in the industry. The municipalities are still trying to develop these mechanisms (despite the Constitutional Court’s ruling that they have no force) and the Yopal Council ruled on this issue.
Ramón Davila, General Manager of Gases del Caribe, reported on the firm’s accomplishments during 2018 and its goals for this year.
Ecopetrol (NYSE:EC) spoke about its successful social investment projects in Arauca, Meta and Putumayo. These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
Oil prices and the value of the dollar are two of the main variables that drive the Colombian public finances. Expectations for these metrics are not encouraging for this year, and this situation could affect the country’s public finances.
The National Hydrocarbons Commission (CNH) started the year with big news: an important finding by India’s ONGC Videsh Limited.
High fuel prices anger Colombians and affect the performance of several economic sectors in the country. Colombia is looking at alternatives to confront this situation and the Colombian Propane Association (Gasnova) gave some recommendations.
The NOC spoke about the acts of vandalism that took place in the Palagua field (Boyacá). The development of these and other stories in our periodic Security summary.
Colombia is working in strategic fields to increase its oil production as soon as possible. This strategy is generating the first positive results and the Akacias field is proof of that.
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