News and AnalysIs for

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.

The government’s ‘magic formula’ to establish fuel prices has created much debate and controversies in Colombia. Representatives of the Liberal Political Party spoke on this subject.

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.

The Ministry of Mines and Energy (MinMinas) announced an increase in fuel prices for October this year and the entity explained the decision. Fedispetrol talked about the need to review the ‘magic formula’ to establish fuel prices.

The oil price recovery has generated high expectations in the private and public sector due to its multiple benefits. Experts talked about the behavior of oil prices and its possible benefits for Colombia.

The Ministry of Mines and Energy (MinMinas) announced an increase in fuel prices for August this year and the entity explained the decision. Politicians asked MinMinas for changes in fuel prices in producing areas.

María Fernanda Suárez, Minister of Mines and Energy (MinMinas), spoke about Ecopetrol (NYSE: EC) investment plans in the department of Santander and the deadlines for submitting the document.

Terpel completed 50 years of operation recently and its president Sylvia Escovar spoke about the company’s plans, challenges and projects in the country and other relevant issues.

The Colombian Association of Natural Gas (Naturgas) wrote a report comparing the prices of gasoline with natural gas prices in the main cities of the country. The price difference between these two fuels has increased recently.