Colombia’s Federation of Insurers (Fasecolda) presented a proposal to sell the government’s shares in Ecopetrol. The initiative was not free from controversy.
The country showed a decrease in its economic growth in 2017, but the recovery of oil prices has generated positive expectations for this year. Juan Manuel Santos, President of Colombia, could end his administration with signs of economic recovery.
Oil companies have to face many challenges to operate in Colombia, while other countries in the region open their doors with attractive conditions and it seems like Mexico is attracting the interest of several companies operating in Colombia.
There is always something to be worked on to improve the sector’s performance. The issue of transportation costs has come up again so we thought we would reprint this chart from a few months ago.
Asojuntas; an association dedicated to defending the rights of locals in El Morro village (Casanare), announced blockades at Equion’s facilities, arguing that the company is allegedly implementing fracking.
Colombia’s Central Bank (Banrep) released 1Q18 Foreign Direct Investment (FDI) figures for the country. This increased in the sector compared to same period last year, but dropped compared to 4Q17. Total FDI decreased in Colombia.
Canacol (TSX: CNE) and Arrow Exploration Ltd. announced an agreement on certain Colombian oil assets. In addition, Arrow announced other agreements with Front Range Resources Ltd. and Samaria APA to enter in the Colombian market.
Canada’s New Stratus Inc. announced an agreement to acquire an oil company with important assets and participation in oil fields in Colombia.
Gas distributors Surtigas and Gases de Occidente and logistics company OPL announced an alliance to promote the use of Vehicular Natural Gas (VNG) in the cargo sector.
While reporting on Frontera’s (TSX:FEC) results, we realized that we were continuing to tell an old story. It was time to tell Frontera’s story not one from the past.
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