The 12th round of peace talks started in Habana this Monday, July 28th as government and Farc representatives look to advance on the second point of the peace agenda, political participation.
Heavy crude production increased, but lower prices and higher costs from its spinoff of transportation services cut into Ecopetrol’s profits in the second quarter of 2013 although it held production to last year’s level, growing 2.1%.
This month has an emphasis on investment with an update to our Colombian stock index and a conversation with a fund manager about the country’s attractiveness. Frequent collaborator León Teicher worries whether government complacency might drive investors away.
It’s no secret that labor relations within Colombia’s hydrocarbon’s industry are tense at best, if not completely contentious. Some companies have better relations and some worse but all are experiencing challenges at the present time.
We classify our security counts into the ANH’s geographic basins but separate out incidents near roads and pipelines, independent of the geographic location of the event.
We talked to an investment fund manager who has been around the Colombian and Latin American petroleum industry for a long time. He helped fund the early years of many producers in the region and at one time was heavily invested in engineering and services firms.
Maya and Castilla
Mexico’s Maya was adjusted according to the recent WTI-Brent changes in the differential (as part of the price re-connection process due to the reversal and expansion of some key pipelines), which also has a direct effect in WTS, one of the main components of the Mexican heavy grade price formula.
The Bicentennial Pipeline (OBC) will alter the route of the second phase of the project in search of better security conditions, as well as considering geographical, environmental and logical issues.
Colombian senator Martiza Martínez introduced a legislative bill that would establish a law requiring that seismic exploration for oil reserves first receive an environmental license to move forward.
Venezuela’s need for gas may prompt its NOC PDVSA to attempt to extend the contract it has with Ecopetrol past its current expiration date of 2014. How Colombia’s supply or problems in payments for the gas could change as a consequence still remains a question.
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