Ecopetrol (NYSE:EC) says it will continue to collaborate with Pacific E&P (TSX:PRE) following the reversion of the Rubiales field, and the option of integrating Rubiales with its operation in Castilla and Chichimene weighed in the decision to operate the largest producing field in Colombia directly.
Both gasoline and diesel will drop in price in the month of November, driven by a fall in international prices and the exchange rate, although biodiesel prices continue to counteract this downward trend.
The USO says that its effort and persistence to pressure Ecopetrol (NYSE:EC) to directly operate the Rubiales field amounts to a historic achievement for the union. Now it has called for workers in the field to join the USO and plans to increase its pressure to carry out the modernization of the Barrancabermeja Refinery.
Chinese oil services firm Kerui says that it is looking to partner with Colombian firms, using an offer of the latest technology and cost savings to build its client base in South America. The firm already operates in Argentina and Venezuela, and says it has US$1B to finance projects locally.
Led by the Ministry of Mines and Energy (MinMinas) and some of Colombia’s largest firms in the mining, oil and gas sectors, an agreement to adhere to the Extractive Industries Transparency Initiative (EITI) has been signed, and the first report on the matter is due in December 2015
President Juan Manuel Santos says that a bilateral cease fire could be ready by January 1, 2016, but urged the Farc to accelerate the negotiations in order to do so. Meanwhile the ELN orchestrated a deadly attack which left at least 11 soldiers and one police officer dead.
The Chinese/Indian owned operator Mansarovar let another bit of light shine into its operation in Colombia, and said that it expects strong growth with projections to see its production grow to 131,000bd by 2020, with an emphasis on technology and secondary recovery.
GasGasThe International Gas Union (IGU) wrapped up its congress in Cartagena, with the issue of supply and price in Colombia being a major issue, but it also called for a greater focus on highlighting the environmental benefits of natural gas over other hydrocarbons.
GasIndustrial users on the Caribbean are already feeling a pinch in their gas supply and costs due to El Niño, and this depicts a larger problem of how to boost Colombia’s short term gas supply.
Ecopetrol (NYSE:EC) has reported advances in its Environmental Management Plan for Education and Environmental Culture in Middle Magdalena, and a bill has been submitted to establish environmental royalties. These and other stories related to the environment in our periodic summary.
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