Venezuela’s Minister of Oil and Mining Rafael Ramírez says he is certain that Venezuela will stop buying natural gas from Colombia in August of this year and is nearly ready to start sending gas to Colombia as had been previously agreed.
Pacific Rubiales Energy (TSX:PRE) will increase its purchases of goods and services in in 2014 to US$5B, a US$1B increase over 2013 as it looks to meet exploration and production goals for the year.
The National Hydrocarbons Agency (ANH) has high hopes for the Colombia 2014 Round and based on preliminary interested received from possible participants is aiming for 10 to 20 new companies to enter the national oil industry through the auction.
Over the last three years 1,445 oil engineers have graduated Colombian educational institutions, but of this number 750 have not been able to find work in the national industry says a recent study.
Casanare’s environmental management agency Corporinoquia is planning the prior consultation phase to declare a number of micro-basins as protected natural resources due to their role in the supply of water for local communities.
The National Hydrocarbons Agency (ANH) is preparing a deeper analysis of basins with oil prospects but that are not within the traditional oil producing areas such as Magdalena or the Llanos, and will improve contractual terms as well.
During a seminar with the La Esmeralda community in Acacías, Meta, the Labor Minister Rafael Pardo addressed issues surrounding social investment and environmental impact, but the hiring practices, especially those involving employment agencies generated the most discussion.
In Huila the issue of oil tankers on the roadways continues to draw the ire of local authorities, some of which have called on the national government to immediately suspend all oil tanker traffic in a meeting with national government officials.
The USO has finalized the collective bargaining schedule for this year after deciding to file a new list of terms and withdraw from its current collective bargaining agreement with Ecopetrol (NYSE:EC).
A combination of factors has Colombia set to experience a boom in its proven gas reserves as the government also prioritizes production and consumption of the resource.
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