The Ministry of Mines and Energy (MinMinas) published an outline of the policy alignments of the formula to set fuel prices, and said that prices will remain stable in December and have actually shown a 4% decrease compared to last year.
The Colombian government, by way of the Ministry of Mines and Energy (MinMinas) signed a memorandum of understanding with the US government in Washington DC to cooperate on energy matters.
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.
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