The Natural Gas Association (Naturgas) says that proposed changes that would institute a system of public auctions to set wholesale prices as proposed by Colombia’s Energy Regulatory Commission and Gas – CREG would lead to price increases and opposes the system.
Parex made a somewhat unusual midyear announcement of its reserves and a more usual announcement of its 2Q13 production. Both stories are very good but the reserves story is spectacular. By the close on Thursday, July 11 2013, the stock was up 17% from its Tuesday close.
GasWith an eye on formalizing a disperse sector that has consolidated over the last three years, 12 propane distributors representing 70% of the market have agreed to form a new industry association to represent their interests.
The municipal council members of Villavicencio have sent a formal request to Colombian President Juan Manuel Santos to debate issues surrounding hydrocarbons exploration and extraction in the surrounding area.
Canacol issued an operations update announcing a new well in production and positive overall momentum. MinMinas and investors took interest.
The construction of the Bicentennial Pipeline (OBC) is on its final stretch and is now only 1500 meters from completion as the announced launch in August approaches.
Intercepted communication between organizers of the Farc and the clandestine Communist Party suggests that the guerrilla faction could be involved in the planning of a general strike starting July 20.
The Colombian government has approved an Ecopetrol bond issue of up to COL3T (US$1.556B), a move analysts say will bolster the dollar against the Colombian peso.
The USO will start regional protests in Puerto Gaitán July 12-15 as part of a wider campaign to organize against the presence of multinational oil firms in Colombia, and an economic model that the union says has led to widespread social and environmental abuses at the hands of foreign firms.
A decree expected in late July will reportedly shorten the environmental licensing process for small changes to conventional projects that already have gained approval.
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