Ecopetrol (NYSE: EC) reported its reserves as of December 31, 2017. The NOC managed to report positive results despite social problems, attacks on its infrastructure and low prices during the past year.Ryder Scott Company and De Golyer & Mac Naughton audited the majority of reserves (99%).
The president of the National Hydrocarbons Agency (ANH), Orlando Velandia, spoke about oil prices, production targets and other industry metrics for this year.
Ecopetrol’s (NYSE: EC) export distribution is changing, but the United States remains as the principal destination of Colombian crude. The company said that exports decreased as the Cartagena refinery is using more oil.
According to the CEO, this year started with a bitter sweet feeling for the industry; better international prices, but attacks against oil infrastructure. He also said that fracking is a good option to increase reserves.
The Ministry of Mines and Energy (MinMinas) reported annual oil and gas production figures in the country for 2017. The entity highlighted that this metric is above the target for the medium-term, but it decreased compared to 2016.
La Cira Infantas is the oldest oil field in the country and is located in the department of Santander. This important facility reported a new production record recently.
NOC representatives spoke about the firm’s plans for this year regarding E&P.
Colombia is not an oil country, but its finances depend largely on this industry. The sector crisis affected government finances, but the recovery of crude prices is generating great expectations.
Ecopetrol (NYSE: EC) announced a new oil discovery in the Middle Magdalena Valley Basin (VMM) in the department of Santander.
Sergio Clavijo, Director of the Center for Economic Studies (ANIF) in collaboration with Ekaterina Cuéllar and Nelson Vera analyzed the behavior of Ecopetrol (NYSE: EC) stock price after a decade in the public market.
2025, Hydrocarbons Colombia, All Rights Reserved.
