Colombia’s National Hydrocarbon’s Association (ANH) will become the entity responsible for collecting royalties generated due to gas production starting January 1, 2014.
The ramifications of the Constitutional Court’s ruling that congress, not the executive branch, is responsible for the fixing of fuel prices or subsidies will render two big losers: Colombian consumers and the NOC Ecopetrol (NYSE:EC).
Gasoline pricing is a hot topic in Colombia these days so this month we take up the issue. Luis Ernesto Mejía’s article this month succinctly deals with the major reasons why arbitrarily setting fuel prices based on misguided populism or a misunderstanding of opportunity cost will cause more harm than good.
The USO is riding high this week after reaching a collective agreement last week with the construction contractor CB&I (NYSE:CBI) at the Cartagena Refinery (Reficar) after only three days of a general strike. The organization called it an important step in its struggle.
Incidents near areas of interest to the oil and gas industry were stable this week at 31 at or above recent but below long-term averages. This was a below average week for non-armed forces reported/guerrilla-initiated incidents. Our 4-week Moving Average incident count went up again to 31.3 but the 52 week average dropped to 35.8 incidents per week.
Representatives from 17 oil companies signed an agreement with the Casanare Departmental government in Yopal that establishes an action plan on social issues, productive projects and road infrastructure for the next two and a half years.
2025, Hydrocarbons Colombia, All Rights Reserved.
