One of my favorite – and most useful – things to do is catch up with people in the industry over coffee, or, at the end of the day, over something stronger – like vintage soda water. This habit, like many, has been transformed by the current crisis.
We can get down on the Colombian government for not supporting the oil and gas industry as we think it should be. But BP’s latest Energy statistics show that Latin America’s production problems are not caused by Colombia.
At least that is my – perhaps naïve – hope. The ACIPET’s plea to not sell even 8% of Ecopetrol and recent events at Pemex and PDVSA have me thinking again about politicians’ love of state-owned-enterprises (SOEs) at least in some countries like Colombia.
Recently BP published its annual statistical report on energy and so we updated some of the charts we publish from time to time. As always it seems, the evolving energy matrix evolves more slowly than the related press.
Recently, the Petroleum Engineers’ Association (ACIPET) has written a steady stream of short opinion articles and we have been publishing them from time to time in English. I am generally in agreement with their viewpoint but the latest has me scratching my head.
Between Covid-19, the resulting economic collapse and social unrest spreading throughout much of the globe, many of the principles that underlay the way the world worked in this century are under question. Recently we published two opinion pieces on the environment by a Long-Time Reader and now we have this contribution by the petroleum engineers’ association, ACIPET.
We said we would not be updating our index of shares prices of Colombia-focused companies because, with the departure of Amerisur, there were too few for an average to be meaningful. But that declaration was published on January 20th. Shortly thereafter the wheels came off the oil industry and the world more generally. And so curiosity got the better of us.