Even if use for unconventional exploration and production is included, the oil industry’s use will only amount to around 0.5% of the country’s consumption according to numbers from the Ministry of Mines and Energy.
Led by Exxon Mobil’s (NYSE:XOM), a number of hydrocarbons firms scored well in the Colombian Safety Council (CCS) annual review of accident rates and safety standards across different industries.
A poll of 20 different industry associations in Colombia found that that more than half want to see the Finance Minister (MinHacienda) Mauricio Cardenas continue in his role, with similar support for the Minister of Mines and Energy (MinMinas) Amylkar Acosta and the Commerce Minister Santiago Rojas.
An academic review of hydrocarbons and mining sectors and their role in Colombia’s post-conflict era expects the industries to be highly controversial, but says that there is existing legalization to deal with the issues and that the benefit to the economy is too great to stop the train.
There is much cause for concern that Colombia’s crude oil production peaked in August 2013 and has declined since that time. Here is another look at the issue which suggests the problems are limited not widespread.
The National Authority of Environmental Licenses (ANLA) is developing a new tool that is says will be able to rate municipalities on the impact of positive and negative changes using different socioeconomic factors.
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.
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