Ecopetrol (NYSE:EC) CEO Felipe Bayón did an interview on local television recently, addressing Reficar, La Lizama and Presidential candidate Gustavo Petro’s alternative view of the oil industry.
About a month ago, one of the country’s leading business newspapers, published an article on Ecopetrol’s (NYSE:EC) results with the brilliant title “Ecopetrol does not give up its position as the leader in hydrocarbons”. Considering that the NOC produces ten times what the next company does this does not show a lot of insightful analysis on the part of the headline writer.
Raul Gallegos is Control Risk’s Associate Director based in Bogotá and he keeps an eye on extractive industries. Here he addresses the challenge of royalties in the context of social conflict and with the backdrop of the upcoming Presidential Elections.
Oil production in Colombia showed stable performance throughout 2017, but how have the main producing regions in the country fared? The National Hydrocarbons Agency (ANH) reported 4Q17 figures and we updated our database to analyze the top producing departments.
With less than two months left in this government, the most important measure from the package announced in September 2015 is not going to happen. The bureaucrats have effectively killed the idea of permanent block assignments by avoiding doing anything before time expired.
Canacol (TSX: CNE) and Arrow Exploration Ltd. announced an agreement on certain Colombian oil assets. In addition, Arrow announced other agreements with Front Range Resources Ltd. and Samaria APA to enter in the Colombian market.
As the Santos Government comes to a close, we are back to the ‘Everything is awesome!!!’ campaign, this time with respect to royalties. It did not convince us last time and although the evidence is compelling, we do not agree with the evaluation criterion, so we remain unconvinced.
The Ministry of Mines and Energy (MinMinas) announced fuel prices for June this year. As expected, these increased and the entity explained the reasons for the new rise.
The National Administrative Department of Statistics (DANE) reported Colombian exports value in April. It increased compared to the same period last year and the extractive sector played a key role in this behavior.
The current collective agreement will lapse at the end of June and that means time for the once-every-four-years spectacle of a USO / Ecopetrol (NYSE:EC) bargaining session.
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