We updated our Netback charts based on 1Q21 results from major Colombia-focused publicly-traded E&P companies. This time we introduce a new chart showing how Production & Transport Costs vary with Average Realized Oil Prices.
Colombia has not had a monarch since the first decades of the 19th century, but this week S&P lowered the country’s sovereign debt rating from investment grade to junk. This has serious implications for the county and the industry.
I was not planning to write about this, assuming that, like tax reform, by the time that anything was published life would have moved on. But then my 94-year-old mother called, upset because CBC News had shown her the violence and looting in Bogotá and she was worried. I realized board members and major investors might also be upset and worried.
We did a partial update of our production by field database and this week we publish some illustrative charts. No surprise really, but it is hard to find a silver lining in the clouds of 2020 although companies are upbeat about Capex in 2021 with oil prices rising.
Because the MinEnergia research institute (UPME) thinks we need more gas imports. We thought our readers might appreciate seeing some of the UPME’s graphs that, in their professional opinion, mean that another re-gasification plant is necessary. The source for all these graphs is the UPME. All we have done is translate the labels and titles – and provide commentary.
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.