Environmental compensation of the oil sector has been a difficult issue to develop in the country, but it seems like this topic is thriving, and the environment will be the main beneficiary. Parex announced an important environmental compensation project in the department of Casanare.
Geopark Limited (NYSE: GPRK) announced its financial results for the second quarter 2018. The company reported record oil and gas production and Colombia keeps increasing its participation in this key metric.
Orlando Cabrales, President of Naturgas, wrote an article, in the business newspaper La República, about the proposal to subsidize the purchase of propane cylinders throughout the country.
Ricardo José Lozano was appointed as the new Minister of Environment (MinAmbiente).
The list, which was already delivered to Ecopetrol’s (NYSE:EC) directives, will be discussed this month.
The bottom-line for a company are its profits and/or stock market performance. But we try to take a policy perspective so our bottom-line is production and reserves. Both were rather naturally affected by the oil-price crisis and so, maybe, “nobody’s fault”. The current industry question is how fast things have reacted to upward price signals and whether policy plays a role in that. Call it the U-curve.
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