Between comments by Campetrol President Rubén Dario Lizarralde, stories about services companies in trouble by Colombia’s Superintendent of Companies and reading between the lines of E&P companies’ comments about Capex, no one should be surprised by the overall shape of this graph.
The last time the Farc started a unilateral truce (December 20, 2014) guerrilla-initiated incidents dropped dramatically to 4 or 5 per week, consistent with ELN-only events. The latest truce started last Monday and we had nine guerrilla-initiated incidents.
The USO lashed out at Ecopetrol president Juan Carlos Echeverry for the “first 100 horrible nights” and blamed him for Ecopetrol’s stock price dropping to the lowest point since entering the stock market which they claim are due to low market confidence in his projects.
Although there is a strong possibility that 2015 can finish with consecutive monthly production of above a million barrels, sustaining that number into the midterm or long term is looking very difficult say industry experts.
Ecoperol’s (NYSE:EC) current president of the board of directors Gonzalo Restrepo López has stepped aside to join the negotiating team in Havana, with its only independent member Luis Fernando Ramírez taking up his role.
The Colombian mining industry has developed a tool to monitor elite-, press- and local-community-perceptions of the sector.
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