The Bicentennial Pipeline (OBC) says it will be operational sometime in the fourth quarter of 2013, which signifies another delay in the launch of the 960km, up to 150,000 barrels a day transport infrastructure.
Selling a small percentage of Ecopetrol (NYSE:EC) instead of the whole of electrical energy generator Isagén would be preferable for the government to raise money for a needed investment in infrastructure says the VP of Colombia’s Senate, Carlos Emiro Barriga.
Once a proposal surrounding the environmental management plan of the Barrancabermeja refinery is approved by the National Environmental Licensing Agency (ANLA) is passed, Ecopetrol’s (NYSE: EC) board of directors can approve the next step of the project.
Canada’s Pacific Rubiales Energy (PRE:TSX) will invest USD$1B in infrastructure over the next year through its subsidiary Pacific Infrastructure, in projects that include a port, pipeline and train facilities.
The primary problem is that at the main routes out of the Llanos and the Upper Magdalena Valley basin to Barrancabermeja and the Atlantic coast via Bogotá remain blocked. See the complete list of relevant blockages.
Our estimate of the average operating cost per barrel (based on realized oil price minus netback) has fallen for the last two quarters, having demonstrated a long term uptrend over the previous four years.
Ecuador’s NOC Petroecuador has signed an agreement with a handful of Colombia oil producers to transport crude from the Colombia-Ecuador border to the Amazonas station of the OCP Ecuador pipeline.
The national strike, led by coffee and agricultural workers, is now into its second week and as many as 33 national highways remain blocked due to protests throughout the country.
Following an early August resolution to restrict heavy trucks on Casanare roadways during weekends and holidays, the department’s secretary of public works Wilson Arenas has said in order to consider lifting the restrictions, oil producers must implement a safety protocol.
Members of municipal authorities questioned plans to extend the Carmentea Pipeline near the city of Yopal and accused oil operators in the region of not respecting rural communities and the environment.
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