Authorities announced positive results after developing operations to fight fuel smuggling in the country. The development of these and other stories in our periodic Security summary.
The Ministry of Mines and Energy (MinMinas) announced an increase in fuel prices for October this year and the entity explained the decision. Fedispetrol talked about the need to review the ‘magic formula’ to establish fuel prices.
The National Hydrocarbons Agency (ANH) announced that it will suspend 2018’s Permanent Competitive Procedure, through which it had been receiving proposals for the award of exploration areas.
The Colombian Association of Petroleum Engineers (ACIPET), in alliance with the National Hydrocarbons Agency (ANH), Ecopetrol (NYSE: EC) and other companies, organized a forum on Enhanced Oil Recovery (EOR) in Bogotá. HCC attended the event and we bring a brief summary of the meeting.
Luis Carlos Lopez, president of the USO Magdalena Medio, explained the methodology that the union will use to share its most recent achievements during the negotiations.
Oil prices were up in 3Q18 but investors in Colombian-focused stocks seemed to shrug that off. Only Ecopetrol (NYSE:EC) and Gran Tierra (TSX:GTE) were up over the quarter.
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