Ecopetrol looks to grow its gas production to between 195-260 KBPDE by 2020, depending on how much the industry is able to harness off-shore and unconventional reserves. Production in 2012 reached 119 KBPDE and should grow to 127 KBPDE in 2013.
In one of his last acts as mining and energy ministry, Federico Renjifo Veléz told press at the 2013 press gathering organized by natural gas association Naturgas that the government’s policy going forward will focus on liberalizing prices from the La Guajira field and building more regasification infrastructure. Will the new minister, a native from La Guajira, change this?
GasThe natural gas industry needs to incorporate 30,000 buses and industrial vehicles to natural gas as a way to advance a more ecological alternative to diesel. This would mean growing the share of natural gas powered vehicles (NGV) to 15% in 10 years, compared to 8% today.
Energy subsidies included in 2013 are not receiving the same allotment in the 2014 budget, the amount assigned is short CoP$600B (USD312M) , according to estimations from Colombia’s ministry of Mines and Energy (MinMinas).
After an prolonged debate the Colombian government issued a resolution that aims to lower gas prices using either bilateral agreements or public auctions, depending on the balance of supply and demand.
Average daily production of oil in July 2013 in Colombia reached a new record of 1,020,000 barrels per day, a 14.8% increase over the same period last year, and comes despite a number of strikes, blockades and protests in oil production regions.
Venezuela’s need for gas may prompt its NOC PDVSA to attempt to extend the contract it has with Ecopetrol past its current expiration date of 2014. How Colombia’s supply or problems in payments for the gas could change as a consequence still remains a question.
GasAs the El Niño weather pattern cuts into overall rainfall, depleted supplies at hydroelectric dams mean thermal-electrical production has compensated to stabilize Colombia’s electrical supply, pushing demand for natural gas up by 45% in July, compared to the previous year.
GasThe Colombian Association of Natural Gas said that an unexpected “technical event” in the Cusiana treatment plant has affected the treatment, processing and delivery of natural gas to industrial customers in the interior of the country.
After a substantial run-up in production in the later months of 2012, oil production and for that matter, total production has been just about flat.
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