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.
Despite questions on the competence of municipalities to decide on the use of their subsoil through “popular consultations”, a number of communities are still moving forward with plans to hold a vote, or resorting to blockades.
Mexico has its own benchmark price that policy-makers and the public look at to see if they are depressed or elated. Colombia does not have that habit – the newspapers and TV still mostly talk about WTI – but if it did, Vasconia would be the prime candidate.
Members of both the senate and chamber of representatives are calling for answers from Ecopetrol (NYSE:EC) on supply issues experienced across the country, and on an imminent cut of subsidies for the service which will affect low income users.
GeoPark Limited (NYSE: GPRK) announced the successful testing of the Jacana 6 appraisal well in the Jacana field in the Llanos 34 Block in Colombia.
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