News and AnalysIs for

Delvasto & Echeverria Asociados conducted a study on the oil transport costs in the country. Results are not very encouraging, leaving the country in an uncompetitive position.

The fact that the National Hydrocarbons Agency (ANH) has not delivered any new blocks in the last four years, has the industry wondering.

The Colombian Petroleum Association (ACP) and the Chamber of large consumers associated with the National Entrepreneur’s Association (ANDI) announced plans to boost the natural gas industry in the country.

According to Colombia’s Chamber of Petroleum Goods and Services (Campetrol), the lack of government support is negatively affecting the industry.

The Organization of Petroleum Exporting Countries (OPEC) reported on the oil sector in Latin America and Colombian results are not encouraging. The National Hydrocarbons Agency (ANH) disagrees with OPEC.

Frontera Energy Corporation (TSX: FEC) announced updates to some of its transportation contracts in Colombia, generating huge savings for the company. However, this has generated a controversy because CENIT has announced actions against FEC.

Activities at Coveñas Caño Limón (CCL) were suspended for 180 days due to ELN attacks and oil theft.

The Ministry of Mines and Energy (MinMinas) reported oil and gas production figures for June 2018. Crude increased compared to the same period last year, and gas showed positive behavior as well, surpassing the 1,000mmcfd barrier for second month in a row.

Geopark Limited (NYSE: GPRK) announced its operational update for the three-month period ended June 30, 2018 (“2Q2018”). The company reported good production performance and successful drilling activities in the Llanos 34 block during this quarter.

The Colombian government is making an important commitment to promote the development of offshore projects and take advantage of the Caribbean Sea potential. This has generated high expectations in the Caribbean region of the country, especially in the department of Atlántico. There, leaders are discussing about how to leverage these opportunities and their risks.