Arbeláez (Cundinamarca) may or may not have oil but it does get to have an anti-oil referendum. So does Pasca in the same department. The development of these and more stories in our periodic Eco Summary.
Relations between communities and oil industry are deteriorating every day. This situation is affecting everyone and it seems that there is no solution.
After months of controversy, the General System of Royalties (SGR) was modified to allow the allocation of royalties’ moniesto finance the post conflict process. Separately, thegovernment announced several infrastructure projects in different rural areas of Colombia. These and other stories in our periodic update.
Ecopetrol (NYSE: EC) said one of its largestoil fields has stopped producing. The company went on to say thatblockades and sabotages to La Cira-Infantasfield could affect nearby villages.
The Colombian Association of Oil Engineers (Acipet) organized a breakfast to give the press “objective, technical and clear information about Hydraulic Stimulation in producingrockreservoirs in Colombia”. HCC was present at the event; we bring a brief summary of the meeting.
The Minister of Mines and Energy, Germán Arce, signed a new agreement by which the National Hydrocarbons Agency (ANH) adopts a new scheme for the allocation of new areas of exploration and production of oil and gas.
Late Thursday – after our closing of course – MinMinas published reserves for 2016 and announced that the long-awaited Agreement 2 had been signed.
OK. Maybe ‘smiling’ is too much to ask of a CFO; scowling and grimacing less perhaps. Prices are up; costs are stable; netback is up. What more could a CFO ask for? OK. Maybe even higher prices. More on that later.
The National Hydrocarbons Agency (ANH) published oil and gas reserves in Colombia at the end of2016. As expected, these registered a decrease compared to 2015 figures. The ANH highlighted that contingent resources increased.
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