The TransAndino pipeline has a capacity of 47mbd per day and so should be able to handle about 87% of Putumayo’s current production. But the inability to protect the pipeline and the opening of export routes through Ecuador could leave it underutilized.
Even if use for unconventional exploration and production is included, the oil industry’s use will only amount to around 0.5% of the country’s consumption according to numbers from the Ministry of Mines and Energy.
Led by Exxon Mobil’s (NYSE:XOM), a number of hydrocarbons firms scored well in the Colombian Safety Council (CCS) annual review of accident rates and safety standards across different industries.
A poll of 20 different industry associations in Colombia found that that more than half want to see the Finance Minister (MinHacienda) Mauricio Cardenas continue in his role, with similar support for the Minister of Mines and Energy (MinMinas) Amylkar Acosta and the Commerce Minister Santiago Rojas.
An academic review of hydrocarbons and mining sectors and their role in Colombia’s post-conflict era expects the industries to be highly controversial, but says that there is existing legalization to deal with the issues and that the benefit to the economy is too great to stop the train.
There is much cause for concern that Colombia’s crude oil production peaked in August 2013 and has declined since that time. Here is another look at the issue which suggests the problems are limited not widespread.
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