Government authorities inaugurated Colombia’s first regasification plant, El Cayao, in Cartagena, which is designed to be the backup for Colombia’s natural gas supply.
The tax reform is poised to be the dominant issue in this month as 2016, and the congressional session, winds to a halt. The oil industry has submitted its wish list, but the financial shortfalls of the government’s budget makes any landmark gains look unlikely.
Ecopetrol (NYSE:EC) 3Q16 Line of Business (LoB) results show that Refining is once again profitability challenged while E&P is getting better all the time.
Our count of security incidents near oil and gas infrastructure went up last month, about equally divided between those we ascribe to the guerrilla and those initiated to the Armed Forces.
The USO said that its efforts to prevent the sale of Ecopetrol’s (NYSE:EC) non-essential fields were responsible for the NOC only awarding six of a planned 30 fields in its recent auction.
The president of the National Hydrocarbons Agency (ANH) Orlando Velandia said that fracking is an alternative technology that can be used once a resource has been discovered, but insisted that no fracking projects have been approved in Colombia.
Both the Minister of Mines and Energy Germán Arce and Ecopetrol (NYSE:EC) president Juan Carlos Echeverry were present at the IX installment of the Barrancabermeja Oil Congress, “Beyond Oil”. Both also praised the operation in the city and its refinery, but Echeverry was clear no modernization is planned.
As the Brent oil price pushed above US$53 on Thursday, there is hope that 2017 will see a recovery of exploration and drilling activity.
Colombia’s Senate and Chamber of Representatives have approved the revised peace agreement between the government and the Farc. The main opposition to the agreement, the Centro Democratico, abstained from the vote, and government officials urge a quick implementation of the accord.
Regulation and PolicyMexico’s oil regulator National Hydrocarbons Commission (CNH) announced a list of 17 oil companies from 12 different countries that have pre-qualified to bid on the country’s first-ever offshore auctions, set for December 5th 2016.
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