The Colombian Association of Oil Engineers (ACIPET) believes, like its association peers, that the difficult scenario facing the oil industry today could bring average production down to 890,000bd by the end of the year.
It has been a while since we have seen anyone write about peak oil in Colombia, but a recent column said that embracing fracking is a flawed attempt by the Colombian government to delay the effect of peak oil in the country, when instead it should be investing in renewable energies.
The General Controller Edgardo Maya Villazón presented another report on royalty use which he says shows the royalty process changed under the General Royalty System (SGR), but the bad conduct and mismanagement did not. This and other related stories in our periodic roundup.
The Cartagena Refinery has reported all 34 of its production units are now up and running, completing the startup phase and the controversial expansion of its capacity.
The oil industry is not the only sector to suffer from constant blockades and protests. Mining projects, electrical lines and new highways have all suffered delays due to an increasing conflictive community relationship.
A new law signed by President Juan Manuel Santos will allow departments to apply royalty funds to bills for additional health care, and cover outstanding debts with service providers and insurers, an area where a number of departments are suffering financially.
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