Gran Tierra Energy (TSX:GTE) reported its third quarter earnings for 2014, and said that production and revenues had increased back above a dip experienced in the previous quarter. But considering its trend line over the last 7 quarters, its performance remains relatively flat, with oil prices and logistical issues on the OTA pipeline a recurring problem.
Production for Colombia’s largest private oil operator Pacific Rubiales (TSX:PRE) dropped in the third quarter of 2014 compared to the previous quarter, as water disposal issues continue to affect its flagship Rubiales field. Management looked to focus on the opportunities for other fields and expectations for Mexico, while ensuring that it would stay in Rubiales and that production would grow.
The Ministry of Mines and Energy (MinMinas) announced lower prices for both gasoline and diesel, while the transportation sector called for the changes to be implemented over a longer period of time, and called for more attention from the state.
The oil workers union USO has been banging their drums about an Ecopetrol seismic contractor Sismopetrol, who had closed operations and left workers unpaid. Now Ecopetrol (NYSE:EC) has clarified why the work had stopped, and said it will compensate the affected workers.
Critics of the decree that promises to expedite the process of environmental licensing continued to push back, while a UN survey finds agriculture water use is leaving a river dry in the Valle de Cauca. These and other stories in our periodic round up of environmental stories.
David Riaño assumed the role of president of Colombia’s main gas transporter TGI around a week ago, and has now announced an investment plan of US$200M to invest in three strategic projects that will expand the company’s capacity.
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