The Commission for Regulation of Energy and Gas (CREG) presented its proposed action plan for this year. The entity has big regulatory ambitions for natural gas and propane.
Improve investment and productivity levels, start the production phase in the Lorito and Troglón wells in Guamal, Meta, consolidate 10,000 jobs and educate the locals about the myths around the industry’s impact on the environment are the industry’s five challenges in Orinoquia.
Colombia and Peru signed ‘Inter institutional Cooperation Agreement’ to promote energy-mining sector development in both countries.
Protests have affected the oil industry significantly over the past several years. However, blockades against the industry decreased last year, compared to data from 2015. The Colombian Petroleum Association (ACP) provided the data.
We use weekly closing oil prices in our database so, for our purposes, January ‘ended’ last Friday. Prices were essentially flat but the graph shows that traders are deeply suspicious about where they are going in the medium and long-term.
Frictions between Ecopetrol (NYSE:EC) and the USO in Cartagena, as well as USO Barrancabermeja’s negotiations with Gasoriente were two of the biggest news items of the week. The union is not happy about the NOC’s latest decisions. Shocking!
Pacific Exploration & Production Corp. (TSX: PEN) announced the appointment of Barry Larson as new CEO. The company´s new head will start working February 20, 2017.
The situation at Bioenergy is turning unsustainable. A group of locals hindered operations in the ethanol plant once again.
Rather than scatter my predictions over a number of articles, I decided to consolidate them in one. At the very least, it will be easier to check how I / we did next January.
Noticing GTE’s (TSX:GTE) huge growth in YE2016 reserves and thinking about Ecopetrol’s (NYSE:EC) policy to revert all Association contracts got us thinking about concentration / consolidation in the Colombian oil and gas industry.
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