Oleoducto de Colombia (ODC), which transports crude throughout the country, said it is ready to transport the additional oil that Ecopetrol (NYSE:EC) would produce, if the government decides to bet on fracking.
The Colombian government has initiated a strategy to boost the exploration and production of hydrocarbons in the country, but concerns about loss of self-sufficiency continue. María Fernanda Suarez, Minister of Mines and Energy (MinEnergia), talked to the possibility of importing natural gas and the need for a new regasification plan in the Pacific.
The private sector is developing an ambitious project to build a new refinery in the country. The project received the resources needed through V.I.P Group International, a private investment fund in the US, and the construction phase could begin soon.
Canacol Energy’s (TSX:CNE) CEO, Charle Gamba, spoke about the completion of the firm’s gas pipeline in the Colombian Caribbean.
Ocensa, the largest oil pipeline in Colombia, announced an increase in transport prices, generating controversy in the sector. This “fight” between oil companies and Ocensa continues and government representatives spoke on this issue.
Constant attacks on Coveñas – Caño Limón (CCL) brought back an old project that has the potential to safely transport the oil produced in Arauca’s fields.
For 25 years, Colombia’s Central Oil Pipeline (Ocensa) has transported more than 3.5Bbl throughout the country.
Promigas is building a pipeline for Canacol Energy (TSX: CNE) and this project is progressing quickly. Promigas representatives spoke about the second stage of this important project and its possible delivery date.
Authorities confirmed that the ELN attacked the Bicentenario and Coveñas / Caño Limon (CCL) pipelines, causing a halt in activities.
Communities have complained that royalties’ resources are not visible in their territories, but Ecopetrol (NYSE: EC) plans to change that through the Works for Taxes model.
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