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.
Ecopetrol’s (NYSE:EC) Cartagena Refinery (Reficar) has shown recent, serious advances, but there is little good news from another problematic refinery construction, this one an ethanol plant from the NOC’s biofuels subsidiary, Bioenergy. And critics ask whether the mistakes continue.
Led by the National Hydrocarbons Agency (ANH) president Mauricio de la Mora and Ecopetrol (NYSE:EC) president Juan Carlos Echeverry, Colombia was home to the II World Forum of Enhanced Recovery, which included 25 international experts visiting to detail their experiences in the technology.
Spain’s Repsol (MSE:REP:MC) has unveiled a new strategic plan for 2016-2020 where it looks to optimize its cost and remain resilient despite the fall in oil prices, with cost efficiencies gained through its recent acquisition of Talisman earlier this year a central pillar.
Positive momentum in September carried through to October and we have now had two straight months of increasing month-end crude oil prices. October ended on a positive note.
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