The Colombian Association of Engineers (ACIEM) has contracted a study that looks at the hidden costs that are dragging down the potential of not just the hydrocarbons and energy sector, but infrastructure and telecommunications as well.
President Juan Manuel Santos signed the contract to recover navigability on the Magdalena River, which promises to offer a new alternative transport route for hydrocarbons. The ambitious project will see work start in June 2015, and has a price tag of US$600M.
Canacol Energy (TSX: CNE) has reported its Fiscal Year 2014 results (ending June 2014), reporting growth in its proven reserves, production and turning around its bottom line.
GasIndustry and government projections for Colombia’s gas reserves oscillate between worried and optimistic, with supplies lasting for 6 or 14 years, depending on the source.
An attack that left two oil contractors working on a section of the Coveñas/Caño Limón pipeline dead underscores an alarming increase in attacks not only against the oil industry’s infrastructure, but its workers as well.
The National Authority of Environmental Licenses (ANLA) has named a new director, Fernando Iregui Mejía, a lawyer with experience in the public sector and environmental law.
The Chamber of Oil Goods and Services (Campetrol) has announced that the former Agricultural Minister Rubén Darío Lizarralde will take on a newly created executive president role as the organization looks to tackle an increasingly complicated scenario facing the industry.
The count jumped 12% this week to 46, above recent and long-term averages, but, except for a particularly bad incident, the increase was mostly Armed Forces activity.
A ruling of the State Council suspending a decree that allows the central government to overrule local governing bodies has brought the issue of public referenda against extractive activities back into the spotlight.
Colombia’s oil and gas sector is suffering from heightened pessimism among investors and lowered trust which could result in private firms abandoning plans or projects in Colombia if no change occurs said Lisa Viscidi, director for energy, climate change and extractive industries with Washington DC based Interamerican Dialogue.
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