News and AnalysIs for

The National Hydrocarbons Agency (ANH) was active this week with announcements of the final results of the supplemental auction round, phase 2 of the 2012 Round of auctions, an accounting of its actions for the year and a number of press interviews highlighting plans for next year.

The forum “Sustainable communities and oil”, organized by the ANH and national weekly news magazine Semana, will be held in Bogota on December 7. (As reported by the business magazine Dinero)

National business newspaper Portafolio reports that in 2013, the National Hydrocarbons Agency (ANH) will invest US$153.4M in subsurface studies in many areas of the country. The ANH will do this investment with the purpose of provide subsurface information to prospective investors, since in 2012 Round some companies chose not to invest in certain areas due to lack of geological knowledge.

MinMinas Federico Renjifo participates in The Colombia Business Summit conference organized by The Economist in Paris. From a MinMinas press release. Translated and with commentary by Hydrocarbons Colombia.

Many Colombian news sources picked up a BBC story about Qatar investing its oil wealth in building a knowledge-economy. That so many picked up it meant a number of news editors thought it suggested a different approach to using royalties. That got us thinking as well.

On November 19, 2012 we reported that Pacific Rubiales was buying C&C Energy in an all stock deal. Now in a press release, Fitch reports they rate the deal neutral to positive because “Pacific Rubiales’ production profile will improve through this transaction, as C&C’s lighter crude production will provide Pacific Rubiales with a more favorable diluent source to transport its heavy crude production. Pacific Rubiales estimates that this acquisition will represent savings of approximately USD376 million per year on diluent cost.”