News and AnalysIs for

The Coveñas Caño Limón (CCL) pipeline continues to be the main target of terrorist acts by illegal groups, especially the ELN. Ecopetrol (NYSE: ECP) reported problems to transport oil in this important asset in Arauca.

German Arce, MinMinas, participated in the International Congress of Renewable Energies, organized by the World Energy Council Colombia and the Association of Renewable Energies (SER). He talked about the energy matrix of Colombia and natural phenomena that affect the costs in the system.

Frontera Energy (TSX: FEC) announced its financial and operating results for the quarter and year ended 2017. The company reported good results in the last quarter of 2017, closing the year with strong financial performance.

This past week, ANH head Orlando Velandia reiterated 900 mbd as his 2018 target for crude oil production. Unfortunately, February production also came out this week and that was only 823 mbd.  Recently, I came across an article we wrote just over a year ago (late January 2017) and we seem to be in exactly the same spot we were then.

The Colombian chamber of Petroleum Goods (Campetrol) presented a report on the performance of the oil and mining industry in 2017. The results are not very encouraging.

The Ministry of Mines and Energy (MinMinas) reported oil and gas production figures for February 2018. Crude decreased compared to the same period of last year, but gas showed a positive behavior.

Cartagena refinery (Reficar) announced its 2017 financial and operational results. The plant continues to consolidate its operations in the country, reporting excellent metrics.

Colombia’s Central Bank (Banrep) released final 4Q17 Foreign Direct Investment (FDI) figures for the country. This increased considerably in the sector compared to same period last year. Total FDI grew as well.

The president of the National Hydrocarbons Agency (ANH), Orlando Velandia, spoke about the challenges and opportunities of the industry in Colombia and other Latin American countries.