Colombia’s gas industry is moving towards an open market instead of using an auction system as a way to lower gas prices at the wholesale level. The full supply offer is set to delivered to the industry this week and the negotiation phase will start on September 30.
The USO said they reached an agreement with construction contractor CB&I (NYSE:CBI) at the helm of the expansion of the Cartagena Refinery expansion work days after workers left their post.
The new mines and energy (MinMinas) minister Amylkar Acosta has arrived to a particular dilemma beyond the strikes and protests, as the ministry is facing a 16% cut in its 2014 budget.
Incidents near areas of interest to the oil and gas industry were down this week to 31 above recent but below long-term averages. This was a slightly above average week for non-armed forces reported/guerrilla-initiated incidents. Despite the decrease our 4-week Moving Average incident count went up to 28.3 and the 52 week average was steady at 36.6 incidents per week.
We published a similar article a few weeks ago. Unfortunately our data analysis suffered a technical problem that produced inappropriate conclusions. We apologize for any misunderstanding. Here is the completely revised and corrected data.
MinMinas Amylkar Acosta has named Ricardo Rodríguez Yee as Vice Minister of Energy replacing Orlando Cabrales who goes back to the National Hydrocarbons Agency (ANH) replacing Germán Arce, who – as of writing – leaves the government.
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