Representatives from the Ministry of Mines and Energy (MinMinas) met with representatives from the gasoline and fuel supply chain who called for a frank look at how the Ministry’s formula sets prices each month.
Bolsa Mercantil de Colombia (BMC) has presented the very first report of the Natural Gas Market Manager after it began operations six months ago which confirmed that supply is falling while demand rises, pushing prices up.
The Caquetá Planning Secretary Julián Carvajal Zamora said that officials from Emerald Energy did not attend a call to meet with affected communities before starting their exploration work, which he says is a needed step for an exploration and production license to be granted.
Although there is a strong possibility that 2015 can finish with consecutive monthly production of above a million barrels, sustaining that number into the midterm or long term is looking very difficult say industry experts.
With a lackluster result in Mexico’s Round One, the focus now turns to the next four rounds as observers comment on how the first results can be interpreted and impact the rest of the process.
Colombia’s State Council has ruled to support a decision from the Casanare Administrative Tribunal to protect the Tinije Lake area from hydrocarbons exploration and production activities as an environmental reserve, in the area of the LLA-26 block.
Political pressure on the regulatory framework to set natural gas prices continues to build uncertainty around the future prospects for the industry, as well as natural gas production and distribution.
There has been a brief flurry of press articles about unconventional technologies in the past three weeks but with low oil prices the industry has not been motivated to defend itself and the balance remains negative.
Monday, July 20th, 2015 was not only the first day of the Farc’s unilateral truce but the last day of Senator David Name’s reign as president of the Colombian Congress. We can hope that the CREG can now get on with setting natural gas prices based on reason and not politics.
The Comptroller General has told the Meta government that its statistics on royalty distribution show a discrepancy in departmental data, meanwhile the Comptroller has moved ahead with an audit of the Tolima Government. These and other stories in our periodic roundup.
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