The Finance Minister (MinHacienda) Mauricio Cárdenas says that the production decreases due to the potent trio of problems facing the industry — infrastructure attacks, community conflicts and environmental licensing delays — are the number one economic concern as President Juan Manuel Santos starts his second term.
The USO was rather quiet this week, focusing instead on a member assembly on Friday, June 20th to socialize, discuss and approve the demands it will take to the negotiation table with Ecopetrol (NYSE:EC).
Ecopetrol (NYSE:EC) held workshops and drills with municipalities, civil defense authorities, firefighters and health officials to implement and certify its contingency plan along the security-challenged Coveñas/Caño Limón Pipeline.
The week after President Juan Manuel Santos was reelected, ensuring continuity of the current strategy in the Farc and now ELN peace talks, security incidents near oil and gas infrastructure went down to 26 this week, below recent and long-term averages.
The Colombian Petroleum Association (ACP) head Alejandro Martínez was interviewed by well-known journalist Salud Hernández. With retirement from the ACP coming in August, Alejandro is taking of the kid-gloves.
Year-to-date May 2014 results for kilometers of seismic and numbers of exploratory wells show improvement over 2013 but are not on track to meet government objectives.
Major changes are taking place in the NOC’s organization, at least on paper, moving some power away from the presidential suite.
With President Juan Manuel Santos’ reelection an item of the recent past, the peace process rambles forward. Whether or not the new found pace and inclusion of the ELN guerrilla will hold is now our big question.
As newly reelected President Juan Manuel Santos finishes celebrating, the hangover is probably starting to settle in. He may not even remember all the promises he made as the campaign got tougher but he soon will and voters will certainly remind him.
With US$6B in 2013 sales, gasoline retailer Terpel is the second largest company in Colombia by sales after Ecopetrol (NYSE:EC). It is in the middle of a transformation both of its gas stations and its corporate structure.
2025, Hydrocarbons Colombia, All Rights Reserved.
