Ecopetrol (NYSE: ECP) announced the construction of a new refined-products pipeline in the western region of Colombia. The company highlighted the benefits of this important project for the region and the environment.
The Ministry of Mines and Energy (MinMinas) announced the successful development of projects financed with the Incentive to Production, but authorities warned about irregularities in the development of other projects. These and other stories in our periodic Royalties summary.
Frontera Energy (TSX: FEC) announced its financial and operating results for 1Q2018. The company reported advances in its drilling program with excellent results and production increased during 1Q18 compared to the previous quarter.
Industry entrepreneurs highlighted the city’s offshore potential and talked about what should be done to maximize upcoming opportunities.
The government created the carbon tax with the aim of generating resources for the protection of the environment, but a conflict has arisen between the Ministry of Finance (MinHacienda) and the Ministry of Environment (MinAmbiente) over the use of this tax.
USO Arauca spoke about the results of the negotiations with the firm, regarding labor rights of its workers.
Finally, the ANH published detailed, field-level results for 4Q17 so we can do our quarterly ‘Winners and Losers’ analysis. As always there was much individual variation, but winners tended to be larger than losers, hence our title.
This will be published on Monday May 14, a Colombian holiday (Ascension Day if you are curious) and the start of the final push for Colombia’s Presidential elections (on May 23rd). Two weeks from today we should have significantly more clarity on the next Government and so significantly more clarity on oil policy for the next four years.
The Ministry of Mines and Energy (MinMinas) announced fuel prices for May.; these increased and the entity explained the reasons for the new rise. Representatives of the sector also spoke about prices behavior.
Despite political and social problems, Chevron (NYSE: CVX) and ExxonMobil (NYSE: XOM) remain firm in their decision to bet on Colombia’s potential.
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