News and AnalysIs for

The National Hydrocarbons Agency (ANH) announced that it will suspend 2018’s Permanent Competitive Procedure, through which it had been receiving proposals for the award of exploration areas.

The Colombian Association of Petroleum Engineers (ACIPET), in alliance with the National Hydrocarbons Agency (ANH), Ecopetrol (NYSE: EC) and other companies, organized a forum on Enhanced Oil Recovery (EOR) in Bogotá. HCC attended the event and we bring a brief summary of the meeting.

Luis Carlos Lopez, president of the USO Magdalena Medio, explained the methodology that the union will use to share its most recent achievements during the negotiations.

Oil prices were up in 3Q18 but investors in Colombian-focused stocks seemed to shrug that off. Only Ecopetrol (NYSE:EC) and Gran Tierra (TSX:GTE) were up over the quarter.

The reopened debate about fracking in Colombia reminded me, once again, that we live in a world where nothing is true.

The oil crisis affected Colombia’s public finances in recent years, but crude prices have recently recovered. This situation has returned to generate optimism in the public sector, especially for the economic benefits that this may represent.

Ecopetrol (NYSE:EC), the Attorney General’s Office, the Ministry of Mines and Energy (MinMinas), the Ministry of Environment (MinAmbiente) and Medellin’s Mayor’s Office signed a pact to improve the city’s air quality.

Surtidora de Gas del Caribe (Surtigas) has managed to grow its operations in the country, especially on the Caribbean coast. The company completed 50 years of operations in Colombia with excellent results.

The government confirmed that royalties’ resources for producing regions will considerably increase next year, compared to the 2017-2018 period. These and other stories in our periodic Royalties summary.

The Propane Distribution Association (Gasnova) published figures on the consumption of this fuel and sales index by department in Colombia. Alejandro Martínez, President of Gasnova, highlighted the growth in propane consumption in some regions of the country.