Colombia’s export and investment promotion agency, ProColombia, launched a new campaign last week, “Colombia, The Most Welcoming Place in the World”. Also last week, Glencore was told by the National Mining Agency (ANM) that it could not leave.
This was a decidedly minor news item. It only merited a tweet, not even an article in Hydrocarbons Colombia. But as I investigated, and thought about it, it opened up a number of relevant ideas about E&P, the environment and communities.
Time for us to review prices and netbacks for our Colombia focused publicly traded companies. Prices were up in the quarter but so were costs so not a good quarter on average. As always, individual results may vary.
I think MinEnergia and the Colombian government more broadly are mixing up two important, and related strategies to the detriment of the E&P industry. I have written about this before but it is worth repeating.
Since coming back from the year-end holidays, the Colombian business news – and our modest newsletter – has been dominated by Ecopetrol’s surprise announcement that it was bidding for the country’s long haul electricity transmission provider ISA. This has put the NOC’s long-term strategy up for public debate. Coincidentally, two global thinktanks published separate but similar studies warning National Oil Companies to change their investment plans. A song for Felipe Bayón.
Recently, I came across several articles, reports and webinars dealing with the special challenges of women in the oil and gas industry. Then I interviewed Marianna Boza, O&G and Mining Head at of Brigard Urrutia and one of the driving forces behind the Colombian chapter of Women in Oil and Gas, an initiative to bring greater gender equity to the sector.