US ethanol imports totaled 27% of demand in February causing inventories by local producers to use almost all of their storage capacity. Industry association FedeBiocombustibles says American production has a 30% government subsidy and they cannot compete.
Canada’s New Stratus Inc. announced an agreement to acquire an oil company with important assets and participation in oil fields in Colombia.
In a wide-ranging interview with RCN Radio, leading Presidential candidate Iván Duque said he would save oil industry income from good years to have a reserve for the bad ones.
Julio Cesar Vera, President of the Colombian Association of Petroleum Engineers (Acipet), spoke about the current situation of the industry in Colombia, its relationship with communities and oil prices in an interview with La Silla Vacía.
Gas distributors Surtigas and Gases de Occidente and logistics company OPL announced an alliance to promote the use of Vehicular Natural Gas (VNG) in the cargo sector.
The National Hydrocarbons Agency (ANH) plans to carry out a new oil auction scheme to increase exploration and production in the country. This has generated expectation in investors, since it opens the possibility of exploring new areas in the country with great potential.
The Canadian Embassy organized a talk about social conflict in the Colombian oil sector. Presenting was Rafael Mateus, Director General of Portex Reputation Services. HCC was present at the event and we bring a brief summary of the meeting.
The La Lizama story will not die. The Inspector General’s office has opened investigations against a number of Ecopetrol (NYSE:EC) executives and against senior leadership in the ANH, the ANLA and the Santander regional environmental authority (CAS). Two ECP VPs have been suspended for three months.
Royalty money continues to be allocated to projects, but poor execution dulls its impact. A housing project in Arauca is the latest example. This story and others in our latest periodic summary of royalties-related stories.
While reporting on Frontera’s (TSX:FEC) results, we realized that we were continuing to tell an old story. It was time to tell Frontera’s story not one from the past.
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