In August 2015 Colombia imported US$479.2M in fuels and other products for extractive industries, and in the same month of this year that number grew 6.3% to US$509.6M, led by purchases of kerosene and light oils, even while the Cartagena Refinery (Reficar) grew its output.
The national government and Gran Tierra Energy (TSX:GTE) have signed a voluntary agreement to recovery bodies of water affected by oil production in the Villamarquesa village, in Putumayo. This and other environmental stories in our periodic summary.
The Colombian Hydrocarbons Agency (ANH) said that thus far in Colombia the 22 contracts signed for offshore areas with operators have resulted in investments worth US$423M, and authorities hope to reach the US$1.35B investment tally for the sector in the midterm.
The Ministry of Mines and Energy (MinMinas) gave an update of the funds awarded as part of its “production incentive program” which awards municipalities for meeting production goals. In 2016 the ministry has awarded CoP$90.6B (US$27.4M) to projects. This and other royalty related stories in our periodic summary.
The number of vehicles converted to natural gas continues to grow, albeit at a slower and still slowing rate. Does supply uncertainty play a role?
Equion President María Victoria Riaño believes that the firm has a better outlook as oil prices improve, but is concerned that the recent Constitutional Court decision on popular referendums and the subsoil could cause legal holes and put oil activity at risk.
The government’s royalty budget for 2017-18 has caused concern from associations and control entities like the General Controller, as it relies on an income which observers warn is much more optimistic than what reality will deliver.
The Colombian association for the propane industry, Gasnova, has been working on formalizing the market, but warns that there are groups using regulations and gray areas to take advantage of the market, and that there is a growing mafia of informal distributors in major urban centers.
The Energy and Gas Regulation Commission (CREG) has named Germán Castro Ferreira as its new director, replacing Jorge Pinto who has held the role for the last two years.
I have already written about the recent Semana / ANH conference on offshore exploration and development, expressing my concerns about what I heard on gas strategy.
2025, Hydrocarbons Colombia, All Rights Reserved.
