Downstream Demand and PricingThe steep drop in crude oil prices is finally having a measurable impact on pump prices in Colombia as the government’s smoothing formula finally catches up.
The count decreased again to 33 this week, below recent and long-term averages. However guerrilla-incidents show an unfortunate trend and there were a number of direct attacks on the industry.
Finding skilled laborers with advanced studies in areas that benefit the mining and energy sector remains a challenge, despite improvements at the university level in specialized degree programs, says a press report.
The Magdalena River port project being built by logistics firm Impala in Barranquilla is moving forward after ending a strike in November, and is still on track to start preliminary operations in January 2015, says Impala Colombia general manager Alejandro Costa.
Ecopetrol’s (NYSE:EC) dragging of its feet on the modernization of the Barrancabermeja Refinery has put not just the city’s economy on hold, but stunted development in the region, says the thesis of a Spanish researcher.
The USO said that they made visits to the Rubiales and Caño Sur fields and have found “possible” evidence of a “crude cartel” that the uinon claims is selling contraband crude that goes unreported to authorities.
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