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Oil helps to increase Colombian exports

Colombia is not an oil country but depends on it economically. The nation’s exports have fallen for four consecutive years because of the oil crisis. In recent months, this item reported growth, again thanks to oil.

Wednesday, February 8th, 2017
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Seeking increases in direct royalties

Initiatives to grant more royalties to oil-producing regions have been successful; projects will benefit the departments of Meta, Casanare, Nariño and Tolima, but irregularities regarding royalties’ management in Meta and Boyacá remain a cause for concern among authorities. These and other stories in our periodic summary.

Wednesday, February 8th, 2017
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Parex reserves also grow

Parex reserves also grow

Parex Resources Inc. (TSX: PXT) announced its annual reserves assessment as at December 31, 2016. The company reported a significant increase in its reserves for the seventh consecutive year. This keeps the growth trend of reserves of Colombia producers which have reported. GLJ prepared the reserves report.

Wednesday, February 8th, 2017
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Ecopetrol to invest US$3.2B in exploration and production in 2017

The NOC wants to achieve 715mbd in production, as well as increase exploration in Colombia and Mexico, where last year the Warrior discovery took place.

Wednesday, February 8th, 2017
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“Our decisions do not go against investment”: ANLA

The National Environmental Licensing Authority’s (ANLA) decision to deny — for the second time — the license for the Cañafisto hydroelectric plant’s construction, aroused controversy among investors.

Tuesday, February 7th, 2017
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ECP restructuring transportation business

Ecopetrol (NYSE: EC) has been strengthening its transport business in recent years. The Colombian company has great plans for this corporate area since it has become one of the most profitable.

Tuesday, February 7th, 2017
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LLA 34 drives Geopark reserve growth

LLA 34 drives Geopark reserve growth

Geopark (NYSE: GPRK) announces record oil and gas reserves. The data was certified by DeGolyer and MacNaughton (D&M) as of December 31, 2016.

Tuesday, February 7th, 2017
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Bad hiring practices and good deeds

Not hiring local labor remains a cause for discontent in Magdalena Medio and Meta, but the industry is showing its commitment to the country by developing several infrastructure and social projects in rural Yondó, Puerto Gaitán, several municipalities in Casanare and the Caribbean and Pacific regions. These and other Corporate Social Responsibility (CSR) projects in our periodic summary.

Tuesday, February 7th, 2017
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Fuel prices flat in Feb but up year-over-year

Fuel prices flat in Feb but up year-over-year

Fuel prices started the year with an increase because of the tax reform that added a new tax. The determination of prices is an issue that provokes protests and blockades in the country.

Monday, February 6th, 2017
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CREG’s performance in 2016

The Energy and Gas Regulation Commission (CREG) released its management and results report for 2016. Last December CREG gave us a global balance for the year.  This report goes into more detail on the regulated sectors. We will focus on Natural Gas and Propane.

Monday, February 6th, 2017
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