News and AnalysIs for

Ecopetrol (NYSE:EC) announced a contingency plan due to low fuel inventories in the Barrancabermeja refinery.

Ecopetrol (NYSE: EC) reported its reserves as of December 31, 2018. The NOC reported positive results despite social problems and attacks on its infrastructure. Higher oil prices played a key role to increase this metric during the past year. De Golyer & MacNaughton, Gaffney, Cline & Associates and Sproule International Limited audited the majority of reserves (99%).

The spokesman for the Commission of Experts created by the Ministry of Mines and Energy (MinMinas) explained why the government should wait to implement this controversial technique.

The government of Ivan Duque wants to encourage oil sector growth, through the signing of new oil contracts. Colombian authorities and the industry have already signed new agreements, representing large investments. However, some factors could affect their development.

The union accused the NOC’s management of using outdated regulations to weaken the union.

On February 14, 2019 the Commission of Experts gave its report on the adoption of fracking / unconventional technologies for Colombian exploration and production. We have written several articles on the content. Here we talk about the press reaction.

We attended the presentation by the Commission of Experts engaged to give recommendations on fracking. The next day, we published a summary of the recommendations, last Monday we explored those in some depth and today we go back to fill in some of the details.

In last week’s presentation by the Committee of Experts on Fracking, a great deal was made about the industry not having a ‘social license to operate’. That was a pretty broad brush, based on a small window. Just VMM and, as it turned out, maybe only a couple of communities within VMM.

The National Hydrocarbons Agency (ANH) hosted an event to announce the official launch of its Permanent Competitive Process. HCC was there.

Gran Tierra Energy (TSX: GTE) announced new agreements to acquire strategic assets located in the Putumayo and Llanos basins in Colombia.  The company is optimistic about the potential of these blocks and their benefits.