With 4Q15 results now published for Colombia-committed, publicly traded companies, we could update this graph which shows the average offset or discount to Brent that these companies obtained. This shows that companies receive (on average) about US$10 below whatever Brent is in the quarter.
On March 15, 2016 the Vice Minister of Mines María Isabel Ulloa presented Colombia’s first transparency report, elaborated according to the standards of the Extractive Industries Transparency Initiative (EITI).
The publicly listed companies that will give us enough information to calculate netback have reported for 4Q15 and so we update our quarterly and annual graphs. The good news is that Production and Transport costs dropped 27% in 2015 (on average).
Faced with falling levels of exploration, production and foreign investment, President Juan Manuel Santos has told fiscal and oil & gas entities to form a group to study tax relief options for the hydrocarbons industry.
After an intervention from authorities and the community itself, the Constitutional Court decided to lift a suspension on production activities in the Ocelote-Guarrojo in Puerto Gaitán, Meta, since the suspension could cause more problem than it prevents.
The Ministry of Mines and Energy updated its fuel prices for April 2016, and announced a drop for diesel and an increase for gasoline starting April 5th. Just four days prior, the ministry said there would be no change to prices for April but also said that might change.
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