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.
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.
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.
The government has already begun to give clues about what it would be willing to eliminate from the tax reform.