Incidents near areas of interest to the oil and gas industry were up again this week to 34 above recent but below long-term averages. This was a slightly below average week for non-armed forces reported/guerrilla-initiated incident. The increase caused our 4-week Moving Average incident count to go up to 24.6 but the 52 week average dropped slightly to 36.6 incidents per week.
The time to debate a possible March 2014 referendum that would approve an eventual peace agreement is waning and a congressional vote looms just ahead. The First Commission of the Senate and House delayed a critical vote on the referendum until next Tuesday, September 17th.
The United Nations verified that the highway blockades associated with the agro-workers strike that have paralyzed traffic in many parts of the country have been lifted. The confirmation comes days after an agreement between seven departments and the central government. But already new strikes have been announced.
Incidents near areas of interest to the oil and gas industry were back up this week to 29 above recent but below long-term averages. This was a slightly above average week for non-armed forces reported/guerrilla-initiated incidents. The increase caused our 4-week Moving Average incident count to go up to 23.8 but the 52 week average dropped slightly to 36.8 incidents per week.
MinMinas announced August crude oil production was 1,031mbd, yet another record month. But the expectation on August 21st was for something much higher.
Even with an agreement this week between truckers and the government and formal dialogues with rural workers in Boyacá and Nariño, press reports indicate multiple blockades, located primarily in the departments of Huila, Putumayo and Caquetá.
This week the government of President Juan Manuel Santos looked to build momentum for a proposed referendum in next March’s congressional elections that would open to public vote an eventual peace agreement with the Farc.
According to press reports, despite lifting the blockades in the department of Arauca, petroleum operations are still restricted. The protestors understand that holding petroleum operations hostage is the best way to ensure the government actually comes to the negotiating table.
Within this past week, first Suroco (TSX-V: SRN.V) and then Amerisur (LSE: AMER.L) announced that ongoing disturbances in Putumayo had caused the Suroriente block and the Platanillo blocks respectively to be shut in. The graph shows our estimates of companies with crude oil production in the troubled department, using our exclusive database.
The national strike is into its third week and there are several signs of progress at the negotiating table. However, roads still remain blocked and the first official confirmations that oil production has taken a hit reached the newswire.
2025, Hydrocarbons Colombia, All Rights Reserved.
