News and AnalysIs for

The oil industry has repeatedly said that the development of Unconventional Deposits (UC) is the way to guarantee self-sufficiency in the long term. The Ministry of Environment (MinAmbiente) and the Ministry of Mines and Energy (MinMinas) have different views on this issue.

The Colombian Association of Petroleum Engineers (Acipet) held a press conference in Bogotá and Julio Cesar Vera, President of Acipet, highlighted the association’s actions to boost the industry.

Canacol Energy Ltd. (TSX: CNE) announced that a test to develop its Picoplata 1 well through hydraulic stimulation was successfully completed.

This week we got the July crude oil production results (earlier than last month at least) and while the official press release focused on year-over-year growth, I think we are flat, becalmed in the ‘mid-850s’ doldrums.

The union spoke about Felipe Bayón designation as Ecopetrol’s (NYSE:EC) new president, and reiterated that their agenda will remain intact despite changes in the NOC’s administration.

The Colombian Association of Energy Distributors (Asocodis) and the Colombian Chamber of Energy (CCE),spoke about the negative effects that cutbacks in MinMinas can have on low income families.

The industry sees the development of unconventional fields as the highest probabilitysolution to increase the country’s reserves and production in the medium term. Ecopetrol (NYSE: EC) made a proposal to eliminate the myths about the industry.

Public Companies of Medellin (EPM) and Canacol announced that through a second route,they will start a project to connect the Atlantic coast with the interior of the country and by this strengthen gas supply in Colombia.

The National Environmental Licensing Authority (ANLA) ruled on a request from the oil company Maurel & Prom to carry out exploration activities in the country.

GasThe propane distribution association, Gasnova talked about the situation of this fuel in the country and the possibility of importing it in the short term.