Like last year and the year before that, July oil prices finished in negative territory with respect to June. Not a great start for the third quarter.
We do not want to fill up HCC with social conflict articles but that is what is getting published. And looking at some recent anti-oil articles which have prominent placement in national newspapers, it looks like the industry is just letting go with the Colombian public.
The Santander Departmental Assembly voted to reject fracking techniques and the USO was there to mark the event.
Ecopetrol (NYSE:EC) and the national government reached an agreement with the U’wa indigious community which allowed NOC personnel to restart and secure the Gibraltar Gas plant after weeks of U’wa occupation.
Incidents per week dropped again in July. It was not the lowest four-week period we have seen but it was low for not being an end-of-year holiday period.
A report from the United Nations Development Program (UNDP) said that the government has been able to avoid the worst consequences of a fall in oil prices, but that with a price of US$60/barrel there are worrying signs for the midterm future.
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