The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for July 2018. The good trend continues, as the industry reported more rigs working in this period compared to July 2017 and previous month.
Oil prices have been recovering this year, improving the country’s finances due to higher revenues of industry firms. The government wants to leverage the situation.
The possible loss of oil self-sufficiency has been one of the main issues discussed in Colombia during last years. The development of unconventional deposits is one of the most attractive alternatives to solve this concern and the sector is ready to move forward on this issue.
The guerrilla kidnapped six people in Chocó, and, as usual, it is blaming the government for the fact that the hostages have not been released yet.
Felipe Bayón, CEO of Ecopetrol (NYSE: EC), talked about the company’s plans to increase its reserves. The NOC has a solid cash position at present, allowing it to look at several business opportunities.
The oil sector has proposed the implementation of unconventional techniques to increase reserves, but this alternative has generated much concern and controversies. Communities are taking legal actions to prohibit techniques such as fracking in Colombia.
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