USO Arauca announced that it started the defense of the Collective Labor Agreement that is allegedly being jeopardized by Occidental de Colombia.
Ecopetrol (NYSE:EC) is unique among Colombia-focused operators for many reasons but one is that it is the country’s only integrated oil company, lacking just retail distribution for it to cover the entire value chain. Luckily, the NOC publishes results by Line of Business (LoB) that allow us to understand what is happening below the top-line.
This past week, ANH head Orlando Velandia reiterated 900 mbd as his 2018 target for crude oil production. Unfortunately, February production also came out this week and that was only 823 mbd. Recently, I came across an article we wrote just over a year ago (late January 2017) and we seem to be in exactly the same spot we were then.
Promigas announced its 2017 operational and financial results. The firm highlighted that operational income and EBITDA increased compared to 2016 figures.
The Colombian chamber of Petroleum Goods (Campetrol) presented a report on the performance of the oil and mining industry in 2017. The results are not very encouraging.
The General Comptroller questioned the current royalty system for its poor execution of projects, the dispersion of resources and corruption risks.
The Police reported the capture of two gangs dedicated to this crime. The criminals operated in the departments of Santander, Antioquia and Meta. The development of these and other stories in our periodic Security summary.
The Ministry of Mines and Energy (MinMinas) reported gas production figures for February 2018. Gas has been showing a good trend during this year.
The Ministry of Environment (MinAmbiente) announced that it is finalizing the rules for the development of this technique in Colombia.
Promigas announced a new agreement in Research and development (R&D); a key area to boost the growth of the energy sector. Greg Houston, Deputy Head of Mission of the British Embassy in Colombia and Promigas’ Antonio Celis, spoke about the new agreement.
2025, Hydrocarbons Colombia, All Rights Reserved.
