After a brief ray of sunlight in 2Q15, reality – in the form of a slowdown in the Chinese economy – sent oil prices lower, lower even than they were in 1Q15. However, September showed some signs of improvement driven (unfortunately) by troubles in the Middle East and to some extent by evidence of lower US production.
In a country full of spectacular beauty, La Macarena takes the word ‘spectacular’ to another level. Caño Cristales has to be one of the wonders of the natural world and its remote location in Colombia’s Serranía La Macarena National Park keeps it protected from commercial development.
Whatever one’s view of last Thursday’s historic handshake between Colombian President Juan Manuel Santos and Farc leader alias ‘Timochenko’, peace – at least with the Farc – looks closer today than it has for decades.
Several months ago, I published an opinion piece saying that the reorganization of Ecopetrol (NYSE:EC) in the middle part of the last decade did not go far enough and it should be broken up into several distinct businesses.
We have looked at shut-in fields twice now, once theoretically and once based on the results from the first months of 2015. Now with the National Hydrocarbons Agency (ANH) detailed results for 2Q15 we can see the process of shutting-in fields has slowed or perhaps stopped.
We were all happy with average production over 1mmbd in 4Q14. We were even happier with an average more than 20mbd higher during the first five months of 2015.
Contributor David Yanovich wrote this article for Revista Dinero with the play-on-words title “El peso del dolar” which unfortunately does not translate as cleverly in English.
In the international news section, the current Colombian story is its border dispute with Venezuela. Colombia’s neighbor has ejected several thousand Colombians living near the border and then closed the section in the northeast near Cúcuta to all traffic in either direction.
Analyst’s confession: we think these monthly summaries of key indicators are important for our subscribers, at least to look back at how we got to where we are today.
The sharp and precarious fall of oil prices has been felt from the Toronto Stock exchange, where most of Colombia’s operators are listed, all the way down to villages in the Colombian Llanos.
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