Press reports appeared that Mauricio de la Mora had been appointed the new head of the National Hydrocarbons Agency (ANH). But neither the ANH nor MinMinas have said anything officially.
While known as a producer of gas, La Guajira in northeastern Colombia has characteristics that led researchers at the National University to believe that it could hold an extension of the crude deposits found in the Middle Magdalena Valley.
Canacol Energy (TSX:CNE) highlighted its growing success with gas resources in Colombia in its fourth quarter 2014 (2QFY2015) results. However the firm was still hit by the devaluation of the Colombian peso and drop in the price of oil, and posted a US$46M net loss. We want to focus on the larger issue of what we can see in Canacol’s results that has implications for the broader industry
The president of the Colombian Petroleum Association Francisco José Lloreda started a round of producing regions with a visit to Yopal, Casanare, where he warned that that the government must take greater measures to address the impact of falling oil prices and the recent tax reform.
The National Association of Financial Institutions (ANIF) president Sergio Clavijo sounded the alarms and called for greater diversification of the economy.
The incident count was up by four this week to 34 due to both Armed Forces and non-Armed Forces reported incidents.=”>
Despite enacting a cost cutting program, Ecopetrol (NYSE:EC) says it is planning to keep its production at the projected level of 710,000 bd, assuming an international oil price of US$40-US$50.
Parex Resources (TSX:PXT) published the results of its annual independent reserves assessment through the end of 2014, which showed a 114% increase in 2P reserve growth compared to 2013.
Casanare and industry representatives met to discuss the state of a transportation agreement and found positive results, while in Meta the government will invest to pave a stretch of road leading to the Rubiales Field. These and other stories in our periodic roundup of road-related issues.
The drop in the oil price has spurred dramatic cuts in the investment plans of Colombia’s most important operators, but there is a long ripple effect that the price fall has on the communities, junior operators and side projects that go beyond the big headlines. Here is a summary of some of the more relevant stories to emerge over the last week or so.
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