Geologists have felt the strongest impact from the fall in oil prices as companies slash their investments in drilling and exploration, but there are still some niches that remain in high demand in Colombia.
GasThe El Niño weather phenomenon has intensified from moderate to strong according to the state weather institute IDEAM, and rain shortages in September will mean a strong increase in demand for natural gas, squeezing electrical energy generators.
A modernized and functioning Cartagena Refinery (Reficar) appears to be close, and the refinery is expecting to have a substantial impact on the general economy, although how much is debatable.
A regional military publication profiled the Colombian armed forces troops assigned the task of protecting the nation’s pipelines from guerrilla attacks, and detailed some of the collaboration with other government agencies on the environmental cost.
A national paper consulted with business leaders on where they thought the oil price would settle in the short term. And with words of caution and uncertainty, the response was that it would hover around US$50/barrel. Maybe.
Ecopetrol invests in improving educational infrastructure in Casanare, meanwhile the firm also promises the construction of a college campus in Granada. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
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