The president of the National Hydrocarbons Agency (ANH) Orlando Velandia said that fracking is an alternative technology that can be used once a resource has been discovered, but insisted that no fracking projects have been approved in Colombia.
Both the Minister of Mines and Energy Germán Arce and Ecopetrol (NYSE:EC) president Juan Carlos Echeverry were present at the IX installment of the Barrancabermeja Oil Congress, “Beyond Oil”. Both also praised the operation in the city and its refinery, but Echeverry was clear no modernization is planned.
As the Brent oil price pushed above US$53 on Thursday, there is hope that 2017 will see a recovery of exploration and drilling activity.
Colombia’s Senate and Chamber of Representatives have approved the revised peace agreement between the government and the Farc. The main opposition to the agreement, the Centro Democratico, abstained from the vote, and government officials urge a quick implementation of the accord.
Regulation and PolicyMexico’s oil regulator National Hydrocarbons Commission (CNH) announced a list of 17 oil companies from 12 different countries that have pre-qualified to bid on the country’s first-ever offshore auctions, set for December 5th 2016.
Ecopetrol (NYSE:EC) said that its 2016 Round to award smaller or non-strategic fields was successful, receiving US$53.4M in bids for assets in Catatumbo, Putumayo, Middle Magdalena and Meta.
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