GasThe first round of bilateral negotiations between natural gas producers and their clients and supply chain partners has come to a close, leaving the price at US$3.8 per million BTU, a US$2 drop from the existing price from the La Guajira field.
The vice president of the USO’s Meta chapter, Dario Cardenas Pachon, was arrested on November 2 on a warrant connected to alleged crimes during protests, and the union says that its part of a wide reaching plot between oil companies and public services against its activities.
The National Registry has set a December 15th date for a public referendum in the Tauramena municipality to accept or reject oil production in parts of the community. The authority also confirmed the exact wording of the questions, which links the issue to local water issues.
Incidents near areas of interest to the oil and gas industry were back down this week to 29 below recent and long-term averages. Non-Armed Forces incidents were slightly above average at 17%. This is our indicator of increased guerrilla-initiated activity. Despite this, our 4-week Moving Average incident count was up to 33.5 but the 52 week average was down but essentially unchanged at 34.0 incidents per week.
Our Inner Circle Monthly Report for November 2013 marks the start of our second year of operation.
Pacific Rubiales (TSX:PRE) is planning to invest US$2B in 2014 with 30-35% going towards exploration, but says it is not currently planning any acquisitions after its recent buy of Petrominerales (TSX:PMG).
This week the political party of former President Alvaro Uribe chose its candidate for next year’s presidential election and already the dialogue in the media seems to be between President Juan Manuel Santos and Óscar Iván Zuluaga, representing Uribe’s ideology, adding another layer of complexity to the peace negotiations.
The Ministry of Environment and Sustainable Development (MinAmbiente) released a report on the policy strategy and development of economic and environmental issues along the Magdalena River.
Ecopetrol president Javier Gutiérrez says that higher hydrocarbons prices, a favorable exchange rate and historic production levels have contributed to positive results for the 3Q13, but that attacks on transport infrastructure and community blockades remain a worry for the NOC.
A perfect storm of terrorist attacks on oil infrastructure in Caquetá, Putumayo and Meta along with extended mining and agricultural strikes have contributed to a 43% increase in emergencies stemming from crude leaks in January to September 2013, compared to all of 2012.
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