To meet the national government’s 2016 average daily production goal of 998,000bd the next two month’s production would have be to be well above the million barrel a day mark (1.068Mmbod), a long shot at best. Development and exploration wells are also falling short of the mark.
Senator Maritza Martínez promised to work with the central government and ensure that producing regions receive more royalty resources, as their share is lower than non-producing regions in the biannual budget.
It has been over a year and four months since a Farc attack on the Transandino Pipeline spilled more than 410,000 gallons of oil into the bay of Tumaco in Nariño, and now residents accuse the government of doing little to remedy their situation. This and other environmental stories in our periodic summary.
Pacific Energy (TSX:PEN) made a blockbuster announcement with the closure of its restructuring led by Catalyst, returning to the TSX and changing both the Board and executive suite.
From a security perspective, October was essentially the same as September. Better, actually, in terms of total counts but that was only because the Armed Forces recorded 2 fewer incidents.
In order to evaluate the size of the discovery made at its offshore Kronos-1 well, Anadarko (NYSE:APC) will start drilling its Purple Angel-1 well at the end of December.
Repsol’s (MSE:REP) Colombian director Gabino Lalinde talked about the company’s consolidation following its acquisition of Talisman last year, and said that it aims to grow its production in Colombia by 57% over five years to reach 40,000boed.
Equion has reached an agreement with the presidents of 18 Community Action Committees of the El Morro settlement and created a “manual of coexistence” in order to form a set of rules and guidelines to build a more constructive relationship. This and other Corporate Social Responsibility (CSR) stories in our periodic summary.
The USO said that it has started a review of its collective bargaining agreement with Ecopetrol (NYSE:EC), two years after signing the latest labor accord with the NOC, but made no mention of its plans to hold a company-wide strike.
Oil prices for the critical fourth quarter started on the right foot in October with Brent at its highest average since August of 2015. But sentiment turned last week and the indicators are not good for November.
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