With an eye on the nearly US$10.6B that Ecopetrol has to invest over 2014 in different aspects of its business, the Colombian Chamber of Infrastructure (CCI) has formed an alliance with the NOC to ensure the hydrocarbons investment plan brings benefits for the sector and oil producer alike.
Casanare oil operators and authorities have taken a more active reaction to the emergency drought conditions in the department to both offer support to communities affected and contradict criticism and allegations that oil production has caused the emergency. Critics still remain.
In Monterrey a tanker passing another tanker truck crashed into two other tankers that had just collided while ascending a curvy bit of highway outside the locality known as “The curves”. Witnesses of the accident said that the driver passing the other tanker managed to avoid a full collision with the two other tankers that were stopped, but in doing so ended up in the ditch destroying all the trees and vegetation in its path.
Colombia state owned electrical transmission company Interconexcion Electrica (ISA) is looking to acquire 5% participation of the Pacific Pipeline as part of a new business venture.
The first quarter has just ended and WTI was, on average, 1.3% higher than 4Q13 while Brent was 1.2% lower. What does that mean for average Colombian realized oil prices?
The Ministry of Mines and Energy (MinMinas) says that it is looking to achieve greater stability in the final price of fuel and issued a list of objectives for talks with the transportation sector. But it says the changes must be gradual and linked to market prices.
The gap between WTI and Brent opened in late 2010 and from mid-2011 to mid-2013 average Colombian realized oil prices moved in the gap. The gap has closed somewhat in the past few quarters but, for unrelated reasons, average Colombian realized oil prices have moved to or below WTI.
The United States’ shale gas revolution has awakened in other countries around the world the desire to repeat it, and the United Kingdom is one of the front-runners.
After receiving the signature of the Ministry of Mines and Energy Amylkar Acosta, the National Hydrocarbons Agency has published conditions and rules for E&P contracts involving unconventional resources.
This month we start with an interview with Barry Larson, COO of Parex and Lee DiStephano, Parex’s leader in Colombia. They give us a clear-eyed view of the challenges but the overall tone is positive.
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