The development of offshore projects generates high expectations in the Colombian Caribbean and there have been positive results in a short period. The Zona Franca Palermo (ZFP) started operations and had a good 2017.
No surprise at this stage of the proceedings but the union expressed its dissatisfaction with the economic proposal that Occidental de Colombia (OXY) offered them.
Financial results for 4Q17 are in and crude oil netbacks are up. Hardly surprising given the run up in oil prices, but it looks like not all the growth in Brent is passing through directly to operating profitability.
Since we started Hydrocarbons Colombia, we have reported on a number of good-sized scandals, ones that have lasted more than a couple of days. The latest is the escape of oil from the La Lizama well. This one could have more profound impacts on the industry than any previous media circus.
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.
With Brent at US$70 per barrel, the government is calling on the different oil companies operating in the country to make the investments they committed in 2012 and 2014’s oil rounds.
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