Financial results for 4Q17 are in and crude oil netbacks are up. Hardly surprising given the run up in oil prices, but it looks like not all the growth in Brent is passing through directly to operating profitability.
Ecopetrol (NYSE:EC) is unique among Colombia-focused operators for many reasons but one is that it is the country’s only integrated oil company, lacking just retail distribution for it to cover the entire value chain. Luckily, the NOC publishes results by Line of Business (LoB) that allow us to understand what is happening below the top-line.
A few weeks ago, the ACP published a study on operating costs, which we thought would be of considerable interest to our readers. The Association has graciously given us permission to translate it to English and publish.
The Colombian Petroleum Association (ACP), the Colombian Chamber of Petroleum Goods and Services (Campetrol), the Colombian Association of Petroleum Engineers (ACIPET), the Colombian Association of Engineers, Cundinamarca Chapter (ACIEM) and the Colombian Association of Geologists and Petroleum Geophysicists (ACGGP) joined forces to celebrate the presence of the industry in the country.
Geopark (NYSE:GPRK) called a breakfast meeting ensure the national press understood what the company had accomplished in production and in its social contributions. HCC is well aware of what it has accomplished but we were invited and bring this report.
A new problem begins to emerge for Ecopetrol (NYSE: EC) due to the fact that the USO initiated blockades in different strategic points the departments of Meta and Casanare.
Geopark (NYSE: GPRK) reported its financial results for 3Q17 and the firm´s showed good financial and operational performance during this quarter.
Canacol Energy Ltd. (TSX: CNE) announced its financial and operating results for the third quarter of 2017. Average production decreased in 3Q17 because of plant maintenance; accumulated extraction increased for this year.
After two years of investigations and complaints from different supplier companies, the Superintendence of Industry and Commerce (SIC) formulated charges against Postobon, Cerrejón, Procter & Gamble (P&G) and Equión Energy, for allegedly restricting the free circulation of invoices.
The construction of new regasification plants has been a subject of much interest and controversy in the country. Companies have shown their interest in these projects. Jaime Orjuela, President in charge of TGI, spoke on this subject and the company’s plans.
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