Incidents near areas of interest to the oil and gas industry were back up this week to 20 but that is still well below recent and long-term averages. This was an above average week for non-armed forces reported/guerrilla-initiated incidents. This dropped our 4-week Moving Average incident count up to 22.8 and the 52 week average dropped as well to 37.9 incidents per week.
In order to reduce transportation costs Pacific Rubiales is mulling the purchase of a light oil producer in Colombia, as it could mix the lighter crude with its heavier product making it apt for pipeline transport and lower costs.
Members of municipal authorities questioned plans to extend the Carmentea Pipeline near the city of Yopal and accused oil operators in the region of not respecting rural communities and the environment.
The latest round of peace talks in Havana came to an end last Saturday, giving pause before the next round starts on August 19th. The role of the media and guarantees to the political opposition have been central themes in talks, which are on the second of five established agenda issues.
A law prohibiting the procurement of land within a 5KM diameter of an oil well in Casanare has the titling process of land at a standstill in the department.
Canadian oil producer Parex, posted strong gains in daily production and reserves in the 2Q13, while revenues and profits fell. The company is confident its position and growth in Colombia will continue.
After a number of families raised protests against oil producer Cepcolsa and set up a blockade in the access to a local well, company and community officials met to discuss labor and social guarantees in the Sevilla village.
A number of corporate social responsibility (CSR) projects have been completed or announced over the last few weeks which show a more positive side of community and industry relations. Many are too small to warrant a full story, but together paint a picture of how the oil sector’s resources can benefit local communities.
Transparency International, the NGO that investigates corruption at the national and international level, has published its biannual survey of countries. Given some investor interest in other Latin American countries, we thought the above graph might be illuminating.
Colombia’s economy growth is “unbalanced” and slowing, and the increased supply of shale gas oil could tamper the boom in the country’s energy production in 2-3 years says Sergio Clavijo, director of Colombia’s National Association of Financial Institutions.
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