Impairment charges and drop in revenues dogged the third quarter results of Pacific E&P, while analysts eagerly await more details on its plans to sell off midstream and infrastructure assets.
Gases de Occidente says that it is prepared to invest US$50M in a 111km pipeline from Valle del Cauca to Buenaventura to improve the natural gas offer, which will take three years to build, but is still awaiting approval from the Energy and Gas Regulation Commission (CREG) on its planned rates.
The Ministry of Mines and Energy has released a number of measures designed to improve the supply of energy and curb its demand in light of the El Niño weather phenomenon.
The Farc warned that military operations are putting its cease fire at risk, and look bent on keeping the progress in Havana as slow as possible. It also said that a popular referendum on the agreement does not represent the organization.
Gran Tierra’s (TSX:GTE) new management team has promised to refocus the company on Colombia and they did manage to have nearly 5% growth in Colombian production in 3Q15 although it remains within the same band as the last three years.
Nearly three thousand Colombians have benefited from Ecopetrol’s (NYSE:EC) professional training initiative over the last year, while Hocol invests in sponsoring local festivals. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
The president of the Colombian Natural Gas Association Eduardo Pizano says that there must be an emphasis on finding new gas to meet the demand, and that without these discoveries it will be impossible to justify more distribution infrastructure.
A national paper has published a report pointing out the importance of creating stimulus measures to invest in secondary recovery, which would allow vital reserve growth from Colombia’s existing fields.
Oil company shareholders are not having a good year, hurt by continuing low oil prices. However Parex (TSX:PXT) 3Q15 results should make its investors happier than most.
ONGC Videsh (OVL), the subsidiary for foreign investments of Indian NOC ONGC, is executing an investment of more than US$72M in a first phase of exploration in three offshore blocks in the Colombian Caribbean.
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