Crude production fell below the 900,000bd mark, presenting a 1.79% slide compared to May 2016 to reach 888,000bd, as the government blamed low oil prices for the fallen produ
We might have called this ‘Small is Beautiful’. Comparing the national public oil companies (NOCs) using published financial results for 2015, the larger ones are ‘profitability challenged’ and the smaller ones do better.
The Constitutional Court approved the government’s plan to hold a referendum to accept or reject the peace agreements made with the Farc.
The General Controller has warned that both national and regional entities must reconsider their finances and plan to limit and correct their dependence on oil resources for public investments, although the central government does not believe investment for regions will be hard hit for now.
The National Hydrocarbons Agency (ANH) has created a standardized set of labor profiles for the hydrocarbons sector, in an attempt to reduce conflicts associated with labor intermediaries.
The U’wa indigenous group which had been blockading the road to the Gibraltar gas plant in Norte de Santander has now entered the facility and forced out 14 workers, the latest escalation in a conflict which has drawn on for 49 days.
The Colombian Association of Oil Engineers (ACIPET) believes, like its association peers, that the difficult scenario facing the oil industry today could bring average production down to 890,000bd by the end of the year.
It has been a while since we have seen anyone write about peak oil in Colombia, but a recent column said that embracing fracking is a flawed attempt by the Colombian government to delay the effect of peak oil in the country, when instead it should be investing in renewable energies.
The General Controller Edgardo Maya Villazón presented another report on royalty use which he says shows the royalty process changed under the General Royalty System (SGR), but the bad conduct and mismanagement did not. This and other related stories in our periodic roundup.
The Cartagena Refinery has reported all 34 of its production units are now up and running, completing the startup phase and the controversial expansion of its capacity.
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