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.
Five Casanare mayors spoke out against seismic testing Ecopetrol has planned for its Odisea 3D project in Casanare, alleging the testing is performed without adequate control and affects water sources and the environment in general.
The National Infrastructure Agency (ANI) has presented a CoP$7T (US$3.7B) budget for “megaprojects” to improve road infrastructure in the Meta Department, considering the increased oil production, agro-industrial development and general increase in the department’s commercial activity.
Looking back a year, production for Pacific Rubiales grew 38% to reach 127,555boed, sequentially flat compared to the 127,889boed produced in the 1Q13. Profits in the quarter were US$57.6M, a 74.3% drop compared to last year and a 52.7% drop compared to 1Q13.
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