News and AnalysIs for

I do not know about you but the announcement of March production results depressed me. Even though we knew that March had to be a bad month, it depressed me because it added to a number of other indicators that suggested the Colombia industry was going through a bad period.

We know it is already 2Q17 but the ANH only just released detailed production results for 4Q16. This database allows us to go ‘beyond the topline’ and see detailed trends.

The USO said Ecopetrol (NYSE:EC) management’s actions are a clear “declaration of war” on their movement, and that they leave the union no other option but to respond to them in an aggressive way. The Union called for a national strike to reject the NOC’s management ‘aggressive’ actions towards social leaders.

GasEcopetrol’s (NYSE:EC) Exploration Vice President, Max Torres, said that gas discoveries in offshore wells could help meet domestic demand, since a gas deficit is expected by 2021.

GasOrlando Cabrales, President of Naturgas, said that the sector’s offshore plans for this year are historical for the country. The industry is optimistic about the possible results of these projects.

The sector is investing in oil transportation infrastructure in the country. The industry is betting on transporting at least some of the crude through the Magdalena River.