Climate change and misinformation, among other issues, have pressured the industry to reinvent itself and adjust to a new reality. Julio Cesar Vera, president of the Colombian Association of Petroleum Engineers (Acipet) explains how he believes the process is going.
On paper, Colombia has about 11 years of gas reserves. But the production forecast shows shortfalls occurring very shortly. Getting investors to search for domestic gas should be a regulatory priority but a better gas netback would also help their decisions.
The Ministry of Mines and Energy (MinMinas) announced an increase in fuel prices for November this year. Representatives of the cargo sector spoke about this new increase and its negative effects.
Last week’s article updating our oil price and future’s charts gave the Analyst an inspiration. Unfortunately, the ‘muse’ appeared just when he was already up against the deadline so it had to wait for this week.
We usually update our oil price graphs at the beginning of October but we had other things we thought were more timely. However, by publishing at the end of the month, we captured the slide that has taken place. Trick or treat? Boo!
Oil prices slipped slightly this week on continued fear of a global economic slowdown but Colombia’s policy makers cannot seem to decide if this is a good thing or a bad thing. I would have thought this was a straightforward question with a straightforward answer.
Over the past few months we have published a few articles on petrochemicals in Colombia (and a seemingly endless stream of articles in Hydrocarbons Mexico). It is clearly a significant political issue even if the economics may be questionable in some circumstances.