July 17, 2012 There are four oil companies in the Colombian stock market: state-owned Ecopetrol, Pacific Rubiales, Petrominerales and Canacol.
Bottom Line: Gas conversions are up as are gas connections overall. Until some of the LNG export plans come on line, local demand will drive producer revenues.
Bottom Line: Local demand for hydrocarbons and coal remain important especially for gas. MinMinas continues with the theme of child labor in traditional mining.
Bottom Line: One of the challenges with Colombian civil society is that extractive industries are viewed only from the negative side of the ledger, especially environmental damage and the impact on traditional ways of life.
Bottom Line: Antioquia is perhaps the only Colombian state with a professional mines secretariat and the state is fiercely protective of its autonomy. Here are calm words by MinMinas about working together.
Bottom Line: Colombia is characterized as being a heavy oil producer because that’s what over 56% of the production is. However most fields are light (121) and obviously over 44% of production is lighter than heavy.
Bottom Line: Pacific Rubiales rating was maintained but the outlook improved from ‘stable’ to ‘positive’ reflecting the company’s financial and operational strength.
Bottom Line: This is the hydrocarbons equivalent of an article published today on mining in the important state/department of Santander.
Bottom Line: This is the same goal reset in May (see article here). The question today is how realistic is that goal given ongoing environmental licensing issues and continued security problems.