We updated our Netback charts based on 1Q21 results from major Colombia-focused publicly-traded E&P companies. This time we introduce a new chart showing how Production & Transport Costs vary with Average Realized Oil Prices.
The National Federation of Fuel and Energy Distributors (Fendipetróleo) talked about fuel shortages in the country.
Gasnova made a statement on the difficult situation of propane at national level.
The blockades leave losses in the oil industry, which are reflected in lower revenues for the country.
The Energy and Gas Regulatory Commission (CREG) will make modifications in the regulation of propane supply prices.
Blockades and protests in Colombia have prevented the transportation of gasoline, gas, propane and other essential services in Colombia, generating shortages in several regions. Industry associations spoke out on this issue.
The protests have a large part of the roads blocked in Valle del Cauca, generating great uncertainty and risk of fuel shortages.
Colombians have shown their discomfort at the high cost of gasoline in the country with the potential to go higher with a VAT increase from 5% to 19%. However, Colombia has one of the lowest prices in the region.
Jorge Bendeck, President of Fedebiocombustibles, spoke about the percentage of palm oil and ethanol in biofuels.
The government has already begun to give clues about what it would be willing to eliminate from the tax reform.
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