The Energy and Gas Regulation Commission (CREG) recently organized an event to show its results during 2015 and 2016. HCC was present at the event; we bring a brief summary of the meeting.
A recent report from the government’s statistics bureau DANE confirmed that in 2015 the departments of Meta, Casanare and Santander represented 75% of the oil industry’s value in GDP terms. We looked at something related but more interesting as shown in the above graph.
Colombia’s Constitutional Court approved the ‘Fast Track’ bill which allows the government to start implementing the peace agreements with the Farc, and now the bill must be debated and voted on in congress.
The Ministry of Mines and Energy (MinMinas) organized an event to present its performance during 2016. MinMinas discussed Energy, Mining and Hydrocarbons, we will focus on our industry.
The president of the Dubai Chamber of Commerce and Industry (CCD) Hamad Buamim explained to Colombian press how his city’s economy has diversified past oil, and that it is a model which Colombia could follow and cooperate with.
Ecopetrol’s and Pemex’s board of directors had a successful meeting where they shared their corresponding business plans as well as valuable experiences.
Ecopetrol (NYSE:EC) 3Q16 results let us see into the impact that Reficar is having on the NOC’s business. The graph also sheds light on our assumed relationship between increased refining activity and ECP’s exports.
The director of the Energy Mining Planning Unit (UPME) Jorge Valencia Marín said the entity has identified 12 projects, including a Pacific re-gasification plan, which will be needed to guarantee the supply of natural gas past 2021.
The former president of the Colombian Chamber of Oil Goods and Services (Campetrol) Ruben Darío Lizarralde was optimistic on the potential to develop the Colombian Caribbean waters for offshore oil production, as part of a move to ensure the country’s energy security.
Casanare had been on the media’s radar due to the way their royalties are being handled. It seems like delays, cost overruns and lack of efficiency spread throughout Colombia’s royalty distribution system. Córdoba and Boyacá on the other hand, will benefit from the ‘incentive to production’ projects, financed by MinMinas. These and other stories in our periodic summary.
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