I should have written this in January where the analogy is somewhat more timely but diversifying the Colombian economy is like resolving to exercise more. Everyone agrees it is a good idea but it never seems to happen.
The ANH finally updated the field-level production results for 3Q16 which allowed us to update our database and produce these two charts. Some surprises perhaps, and some changes in ‘league positions’.
The OPEC announcement in Vienna a few weeks ago pushed oil prices up, pushed stock markets up in oil exporting countries and got everyone thinking that the worst was finally over.
Ecopetrol’s export distribution remains virtually unchanged from 2Q16 and has been essentially stable throughout 2016.
Another significant change in the leaders of Colombia’s industry associations occurred this week after the Colombian Association of Naturgas named industry veteran Orlando Cabrales as its new president, replacing Eduardo Pizano.
Still dealing with stubborn opposition for trying to bring legitimate economic activity to the same time-zone as Caño Cristales and some of the country’s best coca-growing areas, Hocol released a statement to the press on its project in San Juan de Arama.
The government has said that December 1st, is the ‘D’ day marking the start of the post-conflict transition, but the Farc said that nothing will move forward until a “Fast track” amnesty bill for its members passes congress.
The president of the Colombian Chamber of Oil Goods and Services (Campetrol) Rubén Darío Lizarralde has presented his resignation effective December 31st after two years at the helm of the association. The president of the board of the directors Rose Marie Saab, will also leave.
The National Hydrocarbons Commission (ANH) organized an event to show the public its performance during 2016. HCC was present at the event; we bring a summary of the meeting.
The Heavy Crude Pipeline of Ecuador (OCP Ecuador) recently announced it has moved 10mmbl of Colombian crude, as the pipeline benefits from production in Putumayo. But the firm’s president Andrés Mendizábal explains its current volumes are well short of its original goals.
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