The Ecuador Heavy Crude Oil Pipeline (OCP Ecuador) has reached its goal of transporting 10mmbl of Colombian oil.
Canacol Energy (TSX:CNE) has announced a new agreement with gas distributor Promigas to expand its existing gas distribution network and add 100mmcfd to its current agreement.
Even though Colombia has natural gas reserves which are set to last for another six years, if no new discoveries are made then imports to cover national demand would have to start in 2018 due to problems in the distribution and transportation of gas.
Billed as one of the most modern ports the country will have, the Barrancabermeja port is nearly finished and could start operations in January 2017 at full capacity.
Plans for a Meta refinery under a state firm, Llanopetrol, have been marred by controversy and scandal which have once again surfaced in national and local press.
The Minister of Mines and Energy Germán Arce paid a visit to local authorities and industry leaders of productive sectors in the Valle del Cauca, and assured that the government will follow through on new natural gas infrastructure for the Pacific region, including a re-gasification plant.
Natural gas distributor Promigas said that in the first half of 2016 it has added 73,053 new natural gas users, bringing its total base to 3.1M in 650 different communities through its corporate group.
The Cartagena Refinery (Reficar) will not start to show profits until 2017, 18 months following the operational launch of the facility, and something similar is expected for Ecopetrol’s (NYSE:EC) Bioenergy biofuels plant as well.
The Casanare Governor Alirio Barrera laid down a criticism of oil companies, which he said have taken advantage of the department, but have little interest in helping in times of crisis. The Colombian Petroleum Association (ACP) responded that operators needed a concrete plan.
Ecopetrol (NYSE:EC) has started the process of naming a new president for the Cartagena Refinery, with an international headhunt expected to bring an executive with precise knowledge of the petrochemical market and refining operations.