Total security incidents dropped yet again in December 2016 but that was due to a fall-off in Armed Forces activities, not reduced guerrilla action.
BioEnergy ended 2016 with good news: they had produced their first liter of ethanol in 10 years, after the construction of the Alcaraván plant in Puerto López, Meta. However, the General Comptroller announced that the plant is an unfeasible project.
The graph shows annual average prices for WTI and Brent in US$. Despite the ‘good feelings’ we have all had since November, the average price for 2016 was below that of 2015.
Implementing the peace agreement with the Farc will occupy much time with the Congress and Senate this coming quarter. There will probably be little time for anything else.
The Government seeks to reactivate gas exploration and production in the country, so it has initiated the Transitional Plan for the Supply of Natural Gas. This includes seven projects that aim to strengthen gas infrastructure at a national level.
I doubt many of our readers were off from Christmas to today – although it appears most Colombian political decision makers were (as usual). But you were probably off for at least some of the period so an overview should be helpful.
Higher oil prices gave E&P stocks a boost and Colombian-committed companies were no exception.
Óscar Sánchez, president of USO Bucaramanga said that appointing Luis Guillermo Vélez Atehourtua as head of Ecopetrol’s health administration motivated them to start the year with a peaceful takeover Bucaramanga’s CAL (medical center).
The Colombian Petroleum Association (ACP) hopes to see a rebound in the sector in 2017 after concluding a negative year in 2016 which saw a steep fall in prices, lower production, investment and exploration.
After the report presented by the Office of the General Comptroller on CBI and Reficar’s contracts, there are “more questions than answers.” According to the Colombian press there would be a loss to the nation of CoP$8.5T, but the presumed cost overruns should be examined in detail.
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