President Santos claims that the last couple weeks of the peace process has progressed more than in an entire year. “In these two or three weeks much more has been advanced than in the last six months or the past year,” said Santos. Dialogues have focused on justice and the end of the conflict.
A proposed change from the Energy & Gas Regulation Commission (CREG) that looks to facilitate the entry of new energy generators using more hydro, wind or solar power and lower “guarantee charges” has received some praise, while thermal generators say it could impact energy stability.
The sea port of Coveñas has seen an increase in its storage capacity to 1.24mmbl following new tanks installed by Ecopetrol (NYSE:EC) and its transport and logistics firm Cenit. The new tanks will also allow the Coveñas facility to export fuel oil.
The last time we did this chart we concocted a marvelous story about Latin American customers wanting their oil without a heavy dose of Bolivarian rhetoric. Maybe we spoke too soon. Maybe not.
With Colombia’s current tax scheme on companies, it would be nearly impossible to recover lost investment due to the fall in oil prices, unless prices return to a level of around US$80/barrel, said Sebastián Borgarello, VP of Wood Mackenzie’s energy consulting business.
The Comptroller General fears up to CoP$112B (US$35.6M) in project funding has been diverted by municipalities in the first half of 2015. 37 of these cases occurred in the Cesar department.
The Ministry of Mines and Energy (MinMinas) announced a slight drop in both diesel and gasoline prices for the month of September, moved by declines in international fuel prices. However the strengthening of the US dollar against the peso and rises in biofuel costs kept the final price from falling further at the pump.
The Colombian Association of Oil Engineers (ACIPET) held the XVI version of its Oil & Gas Congress last week, leading to a flurry of comments about the current state of the oil industry and its professionals from authorities and observers.
The fall in oil prices has caused a rethinking of budgets and projects, cutting into the potential for unconventional resources but not stopping any programs completely.
Equion supports sustainable poultry production in Casanare, while community members in Trinidad criticize Pacific Exploration & Production (TSX:PRE) for its alleged lack of support in road improvements. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
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