As oil prices have slid, we have been asked about trends in offsets to various oil price benchmarks. We found quarterly Vasconia figures (thanks to Parex) and so were able to check the offset between Colombia’s most important benchmark and what is today the most important global benchmark, Brent. The gap or offset between WTI and Brent has shrunk as prices decreased, what happened to Vasconia and Brent?
A dispute with a corporation of community action committees (JACs) in Acacías has led to blockades, threats against workers and even fuel filled bottles being thrown at Ecopetrol’s (NYSE:EC) drilling equipment which is destined for the Chichimene field.
After a total of 50 rounds of talks, the government and Farc have announced they will start a permanent session on Monday until a final agreement and cease fire is reached.
The president of the Colombian Petroleum Association (ACP) made a trip to Bucaramanga and warned that not bolstering the oil industry will bring serious consequences for the future, and argued that indeed, oil is a part of daily life and should be protected.
The government’s royalty intake was 31.3% lower in 2015 than the year prior, falling to CoP$5.3T, and is expected to continue its fall in 2016. The figure, which comes from the National Hydrocarbons Agency (ANH) is the lowest since 2010. This and other royalty related stories in our periodic summary.
The Colombian government announced that natural gas production for April 2016 fell 2.51% versus March. It provided no explanation.
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