News and AnalysIs for

The expression is “A rising tide lifts all boats” but that certainly applies to netbacks when prices go up. Brent was up 32.5% in 2Q16 and that helped all Colombian companies report better netbacks.

“Parex keeps moving forward” That was the phrase we used to describe Parex’s (TSX:PXT) 2Q16 results and somewhat to my surprise, Colombia President Lee DiStefano liked it.

The Ministry of Mines and Energy (MinMinas) published fuel prices over the weekend for September 2016, which include an rise in both gasoline and diesel, citing increases in crude and biofuels prices.

The Colombian Petroleum Association (ACP) called the peace agreement a positive development and recognized the government’s effort to achieve it. In its diplomatically-toned declaration, it says it will analyze the agreement for its opportunities and challenges.

Equion’s president María Victoria Riaño credits positive results despite hard times to a Company culture which emphasis the positive and reinforces the importance of individual workers, improving the efficiency of the company and its ability to adapt quickly and generate new ideas.

To mark the 65th anniversary of Ecopetrol’s (NYSE:EC) founding, the USO warned that the sovereignty of the NOC is under attack from the administration of President Juan Manuel Santos, who plans to privatize more of the firm’s assets.

The warnings which have emerged against fracking and unconventional production are without merit and have demonized the technique in Colombia, even though it is an opportunity to ensure energy self-sufficiency in Colombia, said Francisco Lloreda, president of the Colombian Petroleum Association.

The brave new “New Economy” of Colombia based on tourism and agriculture should be thought of as a complement to the oil economy, but does not replace it said the Finance Minister (MinHacienda) Mauricio Cárdenas, marking a more modest view of his economic plan.

Government negotiators have reached a final agreement with the Farc this week, closing a three year long process to produce this final accord in talks in Havana. Now the agreement awaits an uncertain and critical plebiscite on October 2^nd.

Pacific E&P said that the Ontario Superior Court has approved the company’s restructuring deal, after its board of directors opted to remain committed to an agreement with Catalyst Capital to restructure the firm and its outstanding debt, despite a last minute counter offer.