News and AnalysIs for

The National Hydrocarbons Agency (ANH) spoke about what must be done to assure the success of the industry in Colombia.

Environmental compensation of the oil sector has been a difficult issue to develop in the country, but it seems like this topic is thriving, and the environment will be the main beneficiary. Parex announced an important environmental compensation project in the department of Casanare.

Geopark Limited (NYSE: GPRK) announced its financial results for the second quarter 2018. The company reported record oil and gas production and Colombia keeps increasing its participation in this key metric.

Orlando Cabrales, President of Naturgas, wrote an article, in the business newspaper La República, about the proposal to subsidize the purchase of propane cylinders throughout the country.

Ricardo José Lozano was appointed as the new Minister of Environment (MinAmbiente).

The list, which was already delivered to Ecopetrol’s (NYSE:EC) directives, will be discussed this month.

The bottom-line for a company are its profits and/or stock market performance. But we try to take a policy perspective so our bottom-line is production and reserves. Both were rather naturally affected by the oil-price crisis and so, maybe, “nobody’s fault”. The current industry question is how fast things have reacted to upward price signals and whether policy plays a role in that. Call it the U-curve.

I promised this three weeks ago now but, fortunately, we received a couple of important expert contributions on Ecuador and the new ‘permanent’ assignment process. Now that we are officially out of the Santos era and into the Duque era, it seems less important to do this. But a promise is a promise…

Parex (TSX: PXT) announced its financial and operating results for the second quarter of 2018. The firm reported oil production growth and good financial performance. Parex is optimistic about its performance in coming quarters.

The development of unconventional projects is one of the main alternatives to resolve concerns about oil self-sufficiency in the long term in Colombia. However, this has generated much controversy over the use of techniques such as fracking and Colombian politicians are discussing this issue.