Angela Cadena, the director of the government’s mining and energy think tank, the Mining Energy Planning Unit (UPME), is on her way out, opening a key vacancy in an entity that serves to fill in the informational holes and create a long term vision for the industry.
The international oil price scenario might be grim, but Ecopetrol has some good news to celebrate as its Chichimene Field reached a new daily production record. But in the current price scenario, how important will this milestone be?
With an estimated drop of 50% in 2015, budgets for exploration activities are feeling a strong pinch from the low international oil prices, bringing long term issues for Colombia’s oil industry.
Ecopetrol (NYSE:EC) has offered an overview of operations at the Barrancabermeja Refinery, which it says is one of its most important industrial complexes, but did not mention any expansion plans.
Ecopetrol and Hocol have paved stretchs of highway in Meta and Casanare, while in Yopal the local government is requiring escorts for heavy vehicles to reduce accidents. Pacific Rubiales (TSX:PRE) and community members avoided a blockade after police intervened in Casanare. These and other stories in our periodic coverage of road issues related to the oil industry.
Ecopetrol (NYSE:EC) says that it has successfully sent the first shipment of heavy crude to the Coveñas port using a new butane diluent designed to replace imported naphtha, a technique the NOC says could save it US$70M a year.
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