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Colombian services firm PetroTiger to distribute Zedi services

Canadian services firm Zedi Inc has selected PetroTiger, a Colombian oil services firm with operations in Colombia, Ecuador, Argentina, Mexico and Panama, to resell its services.

This is the first time that Zedi has authorized an international reseller.

Friday, October 26th, 2012
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Environment Ministery declares offshore block “Specially Protected Area”

Environment Ministery declares offshore block “Specially Protected Area”

This map is the portion of the National Hydrocarbons Agency (ANLA)’s detailed map of exploration and production blocks in the area around the Caribbean islands of San Andres. The blue-grey color means the blocks are available for assignment but currently unassigned. It is doubtful if anyone will ask for them now. The Environment Ministry just had the area (known as “Seaflower”) declared one of 18 marine areas under the “Protocol on Specially Protected Wildlife Areas in the Caribbean Region”.

Thursday, October 25th, 2012
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Pacific Rubiales would probably prefer Colombian politicians to think before they speak

Yesterday a prominent Colombian congressman, Simon Gaviria went on a national radio program and made a statement (which he attributed to the Finance Minister) about Pacific Rubiales that – if true – would have had a significant impact on the company’s future performance. We will not repeat it so we are not even accidentally responsible for continuing a rumor which is patently false./

Thursday, October 25th, 2012
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Larger companies are more efficient

Larger companies are more efficient

We have been collecting financial and operational data on the companies with significant production in Colombia. Our database goes back to 2009 and so far covers nine companies in depth. The seven in the chart are sufficiently mature for us to estimate their average Operating Income for the last year. Economic theory says that larger companies in terms of revenue should have better margins if only because they can spread their fixed costs over a bigger base. Sometimes larger companies lose this advantage by being bloated and inefficient.

Thursday, October 25th, 2012
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Pacific Rubiales getting push back from massive publicity campaign

Pacific Rubiales receives a lot of criticism in the alternative press for its massive publicity campaign. Image advertising is seemingly everywhere and the company is the major sponsor of the National Soccer Team. Websites like La Silla Vacia, Kien y Ke or RazonPublica.com speculate that the publicity is an attempt to buy the mainstream media and whitewash what must be terrible things the company must be doing.

Wednesday, October 24th, 2012
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Colombia’s “Contralora” loses control over environmental issues

Colombia’s Auditor General — known in Spanish as the Contralora — is supposed to be responsible for assuring that the nation’s resources are well spent and that revenues reflect economic activity. Lately however, Sandra Morelli Rico has become concerned that the Environment Ministry (MinAmbiente) has not been sufficiently vigilant on environmental issues, especially in the extractive sector. We commented on her letter about non-conventional hydrocarbons extraction here. On Monday, October 22nd the office published a report criticizing a number of projects in the extractive and energy sectors for reasons which — while they will play well to certain sectors of public opinion — in some cases appear to lack a basis in fact.

Wednesday, October 24th, 2012
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