Initiatives to grant more royalties to oil-producing regions have been successful; projects will benefit the departments of Meta, Casanare, Nariño and Tolima, but irregularities regarding royalties’ management in Meta and Boyacá remain a cause for concern among authorities. These and other stories in our periodic summary.
Parex Resources Inc. (TSX: PXT) announced its annual reserves assessment as at December 31, 2016. The company reported a significant increase in its reserves for the seventh consecutive year. This keeps the growth trend of reserves of Colombia producers which have reported. GLJ prepared the reserves report.
The NOC wants to achieve 715mbd in production, as well as increase exploration in Colombia and Mexico, where last year the Warrior discovery took place.
The National Environmental Licensing Authority’s (ANLA) decision to deny — for the second time — the license for the Cañafisto hydroelectric plant’s construction, aroused controversy among investors.
Ecopetrol (NYSE: EC) has been strengthening its transport business in recent years. The Colombian company has great plans for this corporate area since it has become one of the most profitable.
Geopark (NYSE: GPRK) announces record oil and gas reserves. The data was certified by DeGolyer and MacNaughton (D&M) as of December 31, 2016.
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