As reported RCN Radio, while in Venezuela and Ecuador the price per gallon of gasoline is US$0,19 and US$1,54 respectively, in Colombia is US$4.14, the fourth highest in Latin America. Uruguay is the Latin American country with the most expensive gasoline (US$5.75 per gallon), followed by Brazil (US$5.34 per gallon) and Chile (US$4.39 per gallon). The high price per gallon of gasoline in Colombia surpasses even that of the United States, where it is estimated that a gallon of gasoline costs US$2.85. It takes a barrel of oil to produce 42 gallons of gasoline.
The Ministry of Mines and Energy inaugurated the first business conference in the gas sector involving producers, transport companies, distributors and local suppliers. Seventy companies responded to the call made by Naturgas —the association of natural gas distributors, producers, transporters and retailers.
As reported by La República, Ecopetrol estimates that by the end of 2012 it will have invested CoP$951,000M at its refinery in Barrancabermeja (Santander). The investment has been earmarked for equipment replacement, maintenance and inspections. Thus Ecopetrol has ensured the operation of turbo generators, power lines, substations, boilers and other major operating systems within the refinery.
Resources from this fund were approved for financing 7 of natural gas networks and connections infrastructure projects by Resolution 180 458 (August 2012). From a MinMinas press release. Translated, edited and with commentary by Hydrocarbons Colombia.
The Colombian Natural Gas Association (Naturgas) will hold a business roundtable with producers, distributors and entrepreneurs to look for innovative business opportunities. The event will be held in Bogota on November 15/16, 2012. From a Naturgas press release. Translated and with commentary by Hydrocarbons Colombia.
Ecopetrol and Chevron will upgrade the compression facilities at the Chuchupa field to increase its daily gas production. For this, the field will be off-line from October 30th to November 3rd. More maintenance will take place at the end of the month. From an Ecopetrol press release, translated and with commentary by Hydrocarbons Colombia.
This shows prices to October 12th. WTI Closing US$91.64 up 1.9%; Brent Closing US$114.62 up 1.9%.
October 10, 2012
In a press release, Shona Energy reports a deal to sell 17 MMCFD of gas to Altenesol’s Nataly I liquefied natural gas (“LNG”) Project. The deal is subject to agreement on price which will be in the range of $4.50 to $5.25 per MCF and subject to annual escalation. The eventual agreement will be “take or pay” on both sides.
October 9, 2012 From an Ecopetrol press release. Translated and with commentary by Hydrocarbons Colombia.