Vice Minister of Energy Orlando Cabrales took the government’s opinion on fracking to the press in a column, defending the practice as necessary to maintain production and in turn development.
The first unconventional project to use fracking techniques has only recently been approved by the National Hydrocarbons Agency, but anti-oil advocates already have a lineup of activities to spread their message.
The Ministry of Mines and Energy announced a small increase in fuel prices for the month of September, while more pressure mounts from political sectors to drop prices.
The impact of attacks on oil infrastructure and community conflict has left daily oil production below the government’s targets, and financial entities, including the Finance Ministry (MinHacienda) and the Central Bank are warning on a new fiscal scenario as oil brings less to the State budget.
Puerto Gaitán becomes an unlikely supporter of the General Royalty System (SGR) while Casanare holds an OCAD to approve new royalty projects.
The era of easy discoveries of oil is over declares Colombia’s main business paper, and while offshore and unconventional resources could be the source of the next big find, they bring more challenges and needs more investment.
After weeks of very high guerrilla activity, incidents were up because of Armed Forces actions. The count went up to 40 although the trend line fell.
As part of its plan expand the gas transportation infrastructure available in Colombia, gas distributor TGI, recently acquired by the Energia de Bogota Group, will expand the capacity of its Cusiana-Vasconia pipeline by 20 million cubic feet.
Fresh off an accord with Ecopetrol (NYSE:EC), the USO has now signed another new collective bargaining agreement oil services firm Weatherford (NYSE:WFT).
This month we finish our coverage of the 2014 Round, look at stock prices and offshore exploration, and discuss community-related issues.
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