We have not published our ‘Fracker Tracker’ since early December when news of ExxonMobil’s (NYSE:XOM) application for permission to frack and the signing of an unconventional contract with ConocoPhillips (NYSE:COP) and Canacol (TSX:CNE) had pushed positive press reports to heights not seen for some time. However, this positive press has melted away as the graph shows.
The National Hydrocarbons Agency (ANH) held a rendition of accounts at the end of 2015 and highlighted the actions of the authorities to adapt to the mounting challenges facing the industry. For 2016 though, its president Mauricio De la Mora said he expects things to be tough and that this is now the new normal.
Although the country managed to finish above 1mmbd for the year, the second half was not as sparkling as was expected considering first half performance. Oil prices continue to slide and so shut-in fields are a possible explanation.
Every month the Ministry of Mines and Energy (MinMinas) publishes the prices of fuel and every month there is a chorus of criticism calling for lower prices.
The UK government, through its Colombian Ambassador, signed an agreement with the National Hydrocarbons Agency (ANH) to cooperate on matters involving offshore extraction, as part of the government’s strategy to add new reserves from its offshore blocks.
The government’s sale of its stake in electrical energy generator Isagen shows that its strategy of selling off important national assets is moving forward, says the USO, warning that Ecopetrol (NYSE:EC) will be the next on the list, so the union is calling for national protests.
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