News and AnalysIs for

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.

The Ministry of Mines and Energy (MinMinas) with the National Hydrocarbons Agency (ANH) reported on their management during the last eight years. The entities highlighted results in reserves, drilling and seismic.

Ecopetrol (NYSE: EC) continues to develop exploration activities in Colombia and it seems like the strategy is on the right track. The NOC announced a new discovery in the department of Cundinamarca.

A few weeks ago, we looked at BP’s recently published annual statistical summary of the global energy market. At that time, we did some country-by-country comparisons in a static view. This week we look at changes over time, within Latin America.

The National Administrative Department of Statistics (DANE) reported the value of Colombian exports in May. This increased compared to the same period last year and the extractive sector played a key role in this behavior.