News and AnalysIs for

Castilla Crude Refining Economics

In the last two months heavy grades have remained strong in the Gulf of Mexico market. Margins have been positive, at least in the higher end Gulf of Mexico conversion refineries.

Recently Colombia’s energy regulator, the CREG, issued an order to UPME — the Ministry of Mines and Energy’s think tank and research division — to look into the importation of Liquid Natural Gas, LNG.

The great gas debate has been simmering for a few months now.

The first quarter is strange because some stragglers take the full 90 days they have to report 4Q results and then often are able to file 1Q results early.

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Here we define a new set of stock price indices – Exploration Exposed and Production Exposed – where we exclude companies for which Colombia is only a minor part of their business (like Oxy or Petrobras).

We have wanted to talk to Chris Spaulding of Talisman for some time now. Talisman’s worldwide strategy has changed considerably over the past year and especially since a change of CEO occurred in September, 2012.

This month we have an opinion piece by the ACP’s Alejandro Martínez, interviews with Talisman’s Chris Spaulding and Enbridge’s John Gerez, an amazing fact about Venezuelan oil revenues, our opinion on the chances of success of the current peace process and we update our Colombian stock price indexes.

On Friday April 5th, the National Environmental Licensing Authority (ANLA) convened the general public, representatives of the public and private sectors, control agencies, nongovernmental organizations, ethnic minorities, rural associations and academics to participate in the 2012 Accountability Public Hearing.

Orlando Cabrales attended a conference in Argentina on unconventional hydrocarbons a few weeks ago just as he was transitioning from being head of the National Hydrocarbons Agency (ANH) to being Vice-minister of Energy.