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Long Form Reports

Colombia is NOT the most corrupt country in the world

Or even in Latin America. The headline might have upset your board members or institutional investors when it appeared a few weeks ago but it was false. Colombia is not exactly a shining example of public service morality but not the most corrupt in the world or even the region.

Monday, January 27th, 2020
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Running out of sample

Running out of sample

Our index of shares of Colombia -focused companies is rapidly becoming a set of special cases – a small set which has just got smaller.

Monday, January 20th, 2020
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MinEnergia announces draft decree for fracking pilots

As a belated Christmas gift perhaps, the Energy Ministry published a draft decree to govern Integrated Investigation Pilot Projects for unconventional technologies (PPII). The public has until Monday January 20th, 2020 to comment.

Tuesday, January 7th, 2020
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2019: Turning a corner

About half the ‘end-of-year’ articles I see look forward and half look backward. I like to do both as we cross into a new year, some (most?) say into a new decade. This week I look backward and then about one month from now with the first What We Think article of 2020, I will look forward.

Sunday, December 15th, 2019
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Transport saves the day – again

Transport saves the day – again

Ecopetrol’s 9-month results to September 2019 show that, once again, the Transport Line-of-Business (LOB) has compensated for lower oil prices and poorer margins in the Refining LOB. Ecopetrol (NYSE:EC)

Sunday, December 8th, 2019
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Looking at the glass

This week I came across the phrase “Forget whether the glass is half-full or half-empty: just be happy you have a glass and there is something in it”. This nicely sums up the ANH’s recent bid round.

Monday, December 2nd, 2019
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Your CFO is unhappy but not at you

Your CFO is unhappy but not at you

Lower oil prices inevitably led to lower netbacks in 3Q19 and that could not have made the CFO happy. But production costs were slightly lower on average so operations people should not catch any flak (or at least, not any more than usual).

Monday, November 25th, 2019
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Luis Pacheco: Something more than energy

As we approach the end of the year, most boards are in their annual strategic planning exercises and I think this article should be required reading. It will not tell you where to drill the next well but it might give the board and senior management some perspective on their larger contribution to the economy and society.

Monday, November 18th, 2019
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Oil country corruption perception

Oil country corruption perception

Last week we described a Transparency International study of corruption perceptions in Latin America. For space reasons, we cut the above graph and a companion that looks just at oil countries.

Monday, November 11th, 2019
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Colombians’ main concern

Colombians’ main concern

Much of Latin America has rebelled against its political leaders in recent weeks. Colombia has not been immune but neither has it been as violent as Chile or Ecuador. When polled, most Colombians identify corruption as the issue that most concerns them. To understand this better, we looked at a recent Transparency International corruption study which compares 18 Latin American and Caribbean countries.

Monday, November 4th, 2019
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