Higher oil prices have knocked gas off its perch as Colombia’s most profitable hydrocarbon, at least on a netback basis. We update our charts with the results of 1Q18 and comment about what this shift might mean.
There was some suspense but, in the end, no surprises: right-wing candidate Iván Duque will battle left-wing candidate Gustavo Petro in the second round of Colombia’s presidential elections on June 17th.
The Fuel Price Stabilization Fund (FEPC) was created to reduce the impact of the international prices volatility on the local market. However, the FEPC has reported a huge deficit and it continues to grow.
The Colombian Association of Natural Gas (Naturgas) made an analysis on the situation of key metrics of the gas sector such as production, self-sufficiency and capacity. The association called for more collaboration from Colombian authorities to boost the development of the industry.
A few weeks ago, a long-simmering scandal resurfaced with news that the Attorney General’s office had ordered the retention of several ex-employees of the Meta Governor’s office involved with the Llanospetrol project. They had worked for former Governor Alan Jara. Now he has defended the project to the press.
Locals in Casanare and Santander denounced that they are feeling displaced by the industry, and demand that companies like Ecopetrol (NYSE:EC), Hocol and Perenco answer their calls. The development of these and more stories in our periodic Eco summary.
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