News and AnalysIs for

The arrival of El Niño has added a whole new dynamic to an ongoing debate raging along the Caribbean coast over the price of natural gas, as questions on the long term rates and short term supply alike fill the press.

The USO is planning a general strike in Ecopetrol’s (NYSE:EC) fields and facilities on November 17^th, which it claims is necessary to protect against mass layoffs being planned by multinationals.

We have been tracking the debate and discussion on Colombia’s gas supply which is tight now and will likely follow with a deficit in supply in 2016. We noticed yet another entity that has confirms that the cost of gas is on the rise: Colombia’s statistical agency DANE.

The General Royalty System (SGR) has been in place for three years now, with President Juan Manuel Santos marking the event by praising its contribution to job growth and a reduction in poverty. But not all agree.

In announcing Geopark (NYSE:GPRK) 3Q15 results, CEO James F Park said that the company’s portfolio and cost-management efforts resulted in “approximately 85% of our production being profitable at a $25-30 oil Price”.

The controversy surrounding the operation of Colombia’s largest producing field, Rubiales, continues past Ecopetrol’s (NYSE:EC) decision to operate the field on its own. Now statements from the Minister of Labor Luis Eduardo Garzón have ignited a debate on current operator Pacific E&P (TSX:PRE) workers at the field.

Written deep in the Southern Llanos, a local paper goes into an anti-oil rant that essentially says even those that had seen production activities in a positive light are left without any arguments because the benefits of having the resource nearby do not materialize.

A recent poll found a significant increase in public support for the peace process even though the approval of President Juan Manuel Santos rose to a smaller degree, while the Farc announced it will stop buying weapons and munitions, and called for a mutual truce.

Canacol Energy (TSX:CNE) reported its third quarter 2015 results, which showed a sequential increase in production and a fall in costs, but gas production fell sequentially although up year-over-year.

After Ecopetrol (NYSE:EC) said in no uncertain terms there is no money to modernize the Barrancabermeja Refinery despite outcry from residents, the oil workers union USO has charged that the NOC is planning to sell the unit, which the firm denies.