On average, the major Colombian-committed producers gave back the gains achieved in 2Q15 in their performance relative to global indices.
October is our anniversary month. The first daily newsletter was sent on October 23, 2012. Our first Inner Circle Weekly Summary went out on October 28, 2012 although we had been publishing weekly summaries on our WordPress blog and the website (which came up in early October) before that.
Ecopetrol (NYSE:EC) has confirmed that it has fired up its industrial services units at the Cartagena Refinery (Reficar), another step towards a full operational launch of the long-delayed project.
A combination of low oil price and attacks on oil infrastructure around the Tibú Municipality in Norte de Santander has led to accusations of mass closures by Ecopetrol that have affected around 1000 workers.
Yet another question from a subscriber on how Colombian E&P companies have reacted to the decline in oil prices. The answer for CAPEX is ‘fairly dramatically’ except perhaps for the NOC. And as the car-miles/gallon disclaimer says “Results may vary”.
As the Cartagena Refinery (Reficar) shows signs of operational life after a long delayed modernization project and appears ready to launch, the USO has started to voice its “reservations” on the project, its operators and alleged health consequences for workers.
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