The National Hydrocarbons Agency (ANH) is preparing another set of regulatory changes, Agreement 05, which builds on past adjustments designed to make the sector more flexible in the new price scenario. This implements the change to directly assign blocks and could also include even more benefits for offshore contracts.
Led by the Casanare Chamber of Commerce (CCC), 12 business leaders from the local Oil & Gas Services Cluster participated in a trade mission to the United States to explore new markets and make business ties in hopes of stimulating their business.
In early 2013, Naturgas’ Eduardo Pizano and the ANDI’s then VP of Mining, Oil and Energy, Santiago Angel Urdinola staged a very public battle over whether Colombia had or did not have sufficient gas reserves to last into the next decade.
MinMinas announced gasoline and diesel prices this past week and as expected they went down. Also as expected, the truckers association and other groups thought they should have gone down further.
The Ministry of Mines and Energy (MinMinas) announced a decree that formalizes a move to make tax free zones for offshore production blocks, and also announced tax benefits for renewable energy.
Ecopetrol (NYSE:EC) continues to analyze its association contracts which are about to expire, and says that if it bolsters the company’s financial standing, it could repeat its decision made at the Rubiales-Piri and revert contracts. Around 45 association contracts between 2015-2041 could be reviewed.
Emboldened by the recent decision for Ecopetrol (NYSE:EC) to directly operate the Rubiales field, the USO has now taken direct issue with the NOC president Juan Carlos Echeverry, who the union claims is dismantling the company to be privatized and targeting workers in favor of multinationals.
Last week we tweeted an article from NGO CERAC with a graph showing that, since the last truce, most combats between the guerrilla and the Armed Forces were initiated by the Armed Forces. This data was seized upon by the Farc as evidence to support their view that the truce should be bilateral, a position rapidly rejected, at least by the Defense Minister.
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.
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