The gap between WTI and Brent opened in late 2010 and from mid-2011 to mid-2013 average Colombian realized oil prices moved in the gap. The gap has closed somewhat in the past few quarters but, for unrelated reasons, average Colombian realized oil prices have moved to or below WTI.
The United States’ shale gas revolution has awakened in other countries around the world the desire to repeat it, and the United Kingdom is one of the front-runners.
This month we start with an interview with Barry Larson, COO of Parex and Lee DiStephano, Parex’s leader in Colombia. They give us a clear-eyed view of the challenges but the overall tone is positive.
That is what a partner in the petroleum practice of a major investment fund told the recent Oil Council Latin American assembly in Bogotá. (So-called Chatham House Rules prevent us from identifying either the individual or his company.)
Communities and CSRA recurring topic, the Minister of Mines and Energy (MinMinas), Amylkar Acosta Media said that advances in training facilities in Meta will mean oil companies no longer have a valid excuse to not hire labor from the local communities.