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PRE says STAR project suspended, but not cancelled

PRE says STAR project suspended, but not cancelled

Pacific Rubiales Energy (TSX:PRE) and the Minister of Mines and Energy Amylkar Acosta clarified that its STAR secondary recovery project has been suspended, but not cancelled altogether, and the post-pilot study will determine its future.

Thursday, July 24th, 2014
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Formality and transparency for the gas market on the way, says new manager

GasThe Bolsa Mercantil de Colombia (BMC) has been awarded a five year contract to administer the transactions and prices of natural gas, which its president Iván Arroyave says will bring greater transparency and formality into gas transactions and the pricing established in the market.

Wednesday, July 23rd, 2014
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Only for experts

Only for experts

The 2014 Round of auctions is over and the Colombian government is all smiles (at least in public) with 26 of 95 blocks assigned. Unlike the previous round, all the onshore winners are companies already doing business in Colombia.

Wednesday, July 23rd, 2014
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Ecopetrol, PRE ending STAR pilot project in Quifa

After a long awaited meeting of Ecopetrol’s (NYSE:EC) board of directors to discuss the use of Pacific Rubiales’s STAR secondary recovery technology, the companies issued a somber news release that says the pilot in Quifa will not continue. It would appear that the technology’s prospects are null for the Rubiales field, although neither are saying that yet.

Wednesday, July 23rd, 2014
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CSR Summary: Spotlight on Arauca, protests over local hiring

Ecopetrol (NYSE:EC) and the Bicentennial Pipeline both have news regarding Corporate Social Responsibility (CSR) in the Arauca department, while elsewhere local residents, sometimes in groups as small as 25, demand more local hiring. These and other stories in our regular review of CSR news.

Wednesday, July 23rd, 2014
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Report says AG investigation finds oil industry behind Casanare drought

A national TV station has gotten hold of a report issued to the Attorney General Eduardo Montealegre that claims that the oil industry is responsible for the drought in Paz de Ariporo, Casanare earlier this year that led to the widespread deaths of domestic and wild animals.

Wednesday, July 23rd, 2014
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Uncertain future for Rubiales field has PRE union concerned

The uncertainty surrounding the future of Colombia’s largest producing field, Rubiales, and the association contract between Ecopetrol (NYSE:EC) and Pacific Rubiales (TSX:PRE), has workers currently assigned in the UTEN union with the later firm demanding more clarity about their future.

Tuesday, July 22nd, 2014
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The ACP has a new president

The Colombian Petroleum Association (ACP) will be led by a new president, Francisco José Lloreda Mesa, starting in August. Lloreda repaces Alejandro Martínez, who has stepped down after working for the association for the last 20 years.

Tuesday, July 22nd, 2014
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Shock treatment to protect pipelines

The central government is preparing a plan to address what it considers the gravest problem affecting oil production in Colombia today: pipeline security. Officials say military presence is being increased, as are drone flights.

Tuesday, July 22nd, 2014
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2014 Round: issues and opportunities

2014 Round: issues and opportunities

On Wednesday, July 23rd in Cartagena, 38 companies will look at 95 blocks and place their bets. What do we think they will do?

Tuesday, July 22nd, 2014
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