GasMinMinas finally released the June production figures for gas and there was yet another monthly decline, the fifth such decline in a row. The graph shows quarterly data which perhaps shows more dramatically how much it has fallen.
Crude production fell below the 900,000bd mark, presenting a 1.79% slide compared to May 2016 to reach 888,000bd, as the government blamed low oil prices for the fallen produ
The president of the Colombian Petroleum Association Francisco Lloreda warned that in addition to the risk of importing crude in 2022, by next year the country will be forced to import natural gas to cover its demand. Venezuela has also said that it is ready to export gas to Colombia.
GasNatural gas market research firm Concentra said that the end of the El Niño weather phenomenon has led to a surplus of gas in the market, and a 7% fall compared to April 2016, with 991Gbtud consumption on average.
After a successful strategy to diversify its production towards gas, Canacol Energy (TSX:CNE) says that it could replace 60% of Colombia’s current natural gas reserves, but to do so infrastructure bottlenecks must be addressed.
The Colombian Association of Natural Gas (Naturgas) has called on the national government to intervene at the Gibraltar gas plant after two indigenous groups blockaded the plant, trapping 19 employees inside for more than a month now, or face shortages in the area.
Last week we did the top 10 oil producers so we thought we would start this week off with the top 10 gas producers and then look at the top 10 combined producers.
Canacol Energy (TSX:CNE) says that the firm has natural gas, it has clients that want to buy it, but it lacks the transport capacity to deliver it adequately, especially for new discoveries, and instead suffers from a “private monopoly”.
The Colombian government announced that natural gas production for April 2016 fell 2.51% versus March. It provided no explanation.
In a dramatic shift over just a few weeks, the rain brought back Colombia’s hydro resources, the halted Guatapé plant started working again and thermal generators slashed their natural gas purchases. Now paired with a global surplus of gas, low prices make some of Colombia’s strategic projects, especially offshore, look uncertain.