The Canadian Embassy organized a talk about social conflict in the Colombian oil sector. Presenting was Rafael Mateus, Director General of Portex Reputation Services. HCC was present at the event and we bring a brief summary of the meeting.
The La Lizama story will not die. The Inspector General’s office has opened investigations against a number of Ecopetrol (NYSE:EC) executives and against senior leadership in the ANH, the ANLA and the Santander regional environmental authority (CAS). Two ECP VPs have been suspended for three months.
Royalty money continues to be allocated to projects, but poor execution dulls its impact. A housing project in Arauca is the latest example. This story and others in our latest periodic summary of royalties-related stories.
While reporting on Frontera’s (TSX:FEC) results, we realized that we were continuing to tell an old story. It was time to tell Frontera’s story not one from the past.
As I said a few weeks ago, we are rereading / reediting / rewriting the peace-process summaries that we wrote from 2013 through mid-2017. A frequent writing error was to confuse singular and plural when referring to the FARC; ”the FARC is” versus “the FARC are”. I was reminded of this problem when reading our recent security summary.
Oil production in Colombia showed stable performance throughout 2017, but how have the main operators and producers in the country fared? The National Hydrocarbons Agency (ANH) recently reported 4Q17 figures per field and we updated our database to analyze oil companies’ production metrics.
No, we are not talking about Gustavo Petro’s plans to shift Colombia’s energy matrix to renewables, although that might turn out to be one part of the solution. Instead, MinMinas is looking for medium and long-term proposals without prejudging the technology.
Ecopetrol (NYSE: EC) announced advances in the relocation plan for families affected by the environmental disaster that occurred in La Fortuna, La Lizama and Pozo Quemado in last March.
Newspaper La Republica recently published an excellent distillation of the essential differences between the two remaining candidates for Colombia’s Presidency, Iván Duque and Gustavo Petro.
The Colombian oil sector is experiencing times of great uncertainty, due to the presidential elections and the boom in the anti-oil referendums. This situation could affect the development of several agreements between the government and oil companies, especially the Exploration and Production (E&P) contracts. We will analyze the production that is at stake due to this situation.
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