It is far too easy to use stereotypes. We at HCC are as guilty as anyone of saying things like ‘heavy Llanos oil’. The phrase ‘Colombian royalties are 20%’ comes too easily to the tongue. The graph clearly shows the diversity of royalty percentages in the country and by basin.
After a swell in security incidents in recent months in Arauca the Colombian Army has deployed a tactical unit to maintain order and guarantee mobility within the department.
Multinational trading and logistics firm Trafigura Impala is on the verge of starting construction on a river port in Barrancabermeja to ship goods, among them hydrocarbons, along the Magdalena river.
Ecopetrol (NYSE:EC) awarded a group of 24 suppliers whose performance as contractors stood out as a model in 2013 in a ceremony held in Bogotá.
The USO held elections last week on November 28 and 29th to elect its national representatives. No results have been released thus far, but the union did accuse Cartagena Refinery (Reficar) contractor CB&I (NYSE:CBI) of threatening workers resulting in a low turnout.
The Meta governor Alan Jara rejected the work pace of the OCAD entities, those which oversee, approve and pay for projects involving royalty funds, and accused them as being not more than a centrist tool to administer the funds.
An environmentalist group (La Mesa Hídríca del Piedemonte) which focuses on water issues in the Meta Department, has gathered and submitted 20,000 signatures rejecting oil production work in the nearby Lorito 1 well, in the Guamal municipality.
Incidents near areas of interest to the oil and gas industry were up 12% this week at 28 but still below recent and long-term averages. Non-Armed Forces incidents were slightly above the long-term average. This is our indicator of increased guerrilla-initiated activity. Correspondingly, our 4-week Moving Average incident count was down to 29.0 and the 52 week average was down at 32.9 incidents per week.
This month the centerpiece is a debate between Pacific Rubiales José Francisco Arata and environmentalist Juan Pablo Ruiz Soto on the issue of whether extractive industries are incompatible with sound environmental management: well worth reading.
Estimates from Ecopetrol (NYSE:EC) are that upcoming phases of the current modernization work at the Barrancabermeja Refinery will employ up to 5000 people at its peak of activity in 2014.
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