Editor’s Note: David Yanovich is a Colombian consultant and investment banker who has been part of the Hydrocarbons Colombia community since the very beginning.
Last week we asserted that Naturgas president Eduardo Pizano was incorrect when he said that there was enough gas to meet demand and that El Niño had only caused the “feeling of shortages”.
The Energy and Gas Regulation Commission (CREG) is charged with regulating the industries with the closest impact on the average consumer, electricity and natural gas, and the markets which supply these services.
No we are not going to give the inside scoop on who is buying whom. If we had that information (reliably) we would not be publishing a newsletter.
Editor’s Note: Warren Levy is familiar to just about everyone in the Colombian, and indeed Latin American, industry which he has been around for over 20 years.
This week’s graph shows rather dramatically why gas is attracting great interest in Colombia: since 4Q14, gas netbacks have been higher than oil netbacks.
I saw a headline last week that referred to the ‘robbery’ of Reficar. In English, this phrase would imply that an individual or individuals had benefitted illegally from the project.
With the Coveñas / Caño Limón pipeline back in full service and so Arauca producing normally, we had expected 4Q15 crude oil production to be higher than 1mmbd.
Oil prices have risen the last two weeks in a row but it is too early to call “Victory”. January 2016 was, after all, another month when oil prices slid further, hitting new recent lows.
Although the crisis alarms seem to have moved from the front pages, international weather agencies believe that El Niño will extend through June 2016, so the natural gas requirements to produce electricity at the country’s thermos-electrical plants are still an important consideration with serious implications for the energy grid.
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