An executive with Colombia’s palm oil association FedePalma says that uncertainty and the lack of solid decisions and policies from the government is letting an economic opportunity to increase the use of biofuels pass the country by.
The USO first heralded initial reports last week that its frequent target of accusations Pacific Rubiales (TSX:PRE) had lost its bid to see its Star secondary recovery technology implemented in the Rubiales field, but issued another theory the following day after more details emerged on the future of the technology’s use.
Incidents went down to 36, at recent and above long-term averages but the trend-line continued to head upwards.
Industry leaders grumbled in the corridors about ministerial keynotes at the kickoff of the most important conference of the year but we really could not have expected anything different. In fact, some reading between the lines shows that they have got some of the messages but want the industry to listen some of theirs.
The arrival of now Senator, once President Alvaro Uribe to the Colombian congress, along with his fellow Centro Democratico colleagues has given rise to a much more critical voice in the lawmaking body pointing straight at the peace process. And the new found opposition has come with its own backlash from those supporting the current administration.
Pacific Rubiales Energy (TSX:PRE) and the Minister of Mines and Energy Amylkar Acosta clarified that its STAR secondary recovery project has been suspended, but not cancelled altogether, and the post-pilot study will determine its future.
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