News and AnalysIs for

Pacific Rubiales has come across the remains of an indigenous group that date back 700 years in what now is an exploratory block.

After years of tracking very closely together, Brent separated from WTI in late 2010 and at one point in 2011, was nearly US$30. Last week the gap closed.

The count dropped again to 22 below recent and long-term averages. This was an above average week for non-armed forces reported/guerrilla-initiated incidents. Our 4-week Moving Average incident count was down to 22.8 incidents (down for the ninth straight week) but the 52 week average was essentially stable at 38.8 incidents per week.

GasThe Colombian Association of Natural Gas said that an unexpected “technical event” in the Cusiana treatment plant has affected the treatment, processing and delivery of natural gas to industrial customers in the interior of the country.

The Pacific Pipeline project took a step towards reality after the firm leading the project, Canada’s Enbridge, presented a document that detailed two possible routes that would take it from San Martin in Meta to the Buenaventura port.

A delegation of Canadian union leaders made a visit this week to a popular tribunal and public hearing held by the USO in Puerto Gaitan and promised legal action under provisions in the Colombian-Canadian Free Trade Agreement.

Call it a lull or a deadlock, this week brought words of advice from consultants, former presidents and the Farc, as the recess between peace roundtable talks in Havana continue. Where it all is going, still remains to be seen.

Ecopetrol released purchasing figures which show that just over 90% of its purchasing for goods and services in the first half of 2013 (January –June 2013) were with Colombian companies. Moreover, its hiring of local suppliers grew 46% compared to the previous year, according to information from the Ministry of Mines and Energy (MinMinas).

Pacific Rubiales CEO Ronald Pantin says that recent changes to simplify environmental licenses will improve its timelines for the environmental permit process in Colombia, which in the short term will lead to approval of a license to operate the CPE-6 block in the Llanos basin.

The director of the National Planning Department, Mauricio Santa María believes that the long term goals of the new royalties system (SGR) are on track despite a growing chorus of critics questioning its effectiveness.