During the first half of 2016, crude exports from Colombia to the United states increased by 82,000bd, to reach a total of 520,000bd. This amounts to a 18.72% increase compared to the same period last year.
The formal date for the signing of the peace agreement has been set for September 26th, days ahead of the scheduled October 2 plebiscite. The signing ceremony will take place in Cartagena. Meanwhile the Farc have suspended a conference to discuss the agreement within their ranks.
Ecopetrol (NYSE:EC) said that an average of 20,300 people worked on its projects in the first half of 2016 through its network of contractors, and up to 87% of these workers were local hires. This and other Corporate Social Responsibility (CSR) stories in our periodic roundup.
In its first regulatory move since the exit of its president earlier this year, the National Hydrocarbons Agency (ANH) has published a draft of regulations which will govern a promised new assignment process. The agency will receive comments through September 18th, 2016.
The Minister of Mines and Energy Germán Arce warned that there is a potential that groups with interests in illicit activities have taken to industry blockades negotiate specific demands, and these should not be confused with traditional anti-oil protests.
Improved oil prices have not done much to improve exploration activity in Colombia which is far short of past years and seismic activity has mostly been offshore. However according to the Colombian Petroleum Association, the activity could still meet with the association’s goals for the year.
GasAn expansion of the transport system for gas is required for the investment in exploration to increase, according a study to the Energy Mining Planning Unit (UPME), which also found there is enough supply to meet demand only until 2023.
The Colombian Chamber of Oil Goods and Services (Campetrol) performed a survey among its members and found that between January and May of 2016 blockades and strikes led to lost daily production of 9,000bd.
A forum took place at the Bogotá-based Pontificia Universidad Javeriana, jointly organized by Crudo Transparente and the Pensar Institute, with the aim of discussing the difficult relationship in Colombia between the population and the oil industry. We attended the kick off meeting and brought back this report.
The departments of Caquetá and Putumayo will see a greater concentration of exploration and production activity, and will likely be included in the upcoming Colombia 2016 round.
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