Attacks on the Caño Limon-Conveñas pipeline affect the environment, Colombian production, Colombia’s tax revenues and the returns of shareholders in companies which depend on this infrastructure. Ecopetrol (NYSE: EC) reported a new attack on this facility.
The Colombian oil sector is facing many challenges and problems in the country. There is much concern about the industry’s future and several oil associations have joined forces to create a committee to boost the sector.
Army forces and the Fiscal and Customs Police (Polfa) gave a report on their operations throughout Colombia to fight oil theft. The development of these and other stories in our periodic Security summary.
The National Hydrocarbons Agency (ANH) will offer exploratory blocks located in the Colombian Caribbean coast. Orlando Velandia, President of the ANH, spoke about this.
The Colombian Association of Petroleum Engineers (Acipet) said that the Minister of Environment (MinAmbiente) Luis Gilberto Murillo, lacks information and sense of opportunity after saying that Colombia is not ready to develop fracking.
The National Environmental Licensing Authority (ANLA) participated in a forum to discuss the Valuation of Environmental Services, and oil spills were reported in different oil producing regions. The development of these and more stories in our periodic Eco summary.
The hopes of the Colombian government are in offshore projects to guarantee the country’ self-sufficiency. Juan Manuel Santos, President of Colombia, spoke about the level of offshore investments in Colombia.
The boom of anti-oil and mining referendums has created a lot of legal uncertainty in Colombia. The government aims to regulate this mechanism, but several associations have come out against this intention.
The Canadian Chamber of Commerce together with Norton Rose Fulbright, hosted an event to discuss the industry’s situation in the world and the impact of Agreement 02 in Colombia. National Hydrocarbons Agency (ANH), Canacol (TSX: CNE) and Parex (TSE: PXT) representatives attended the event.
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