News and AnalysIs for

As reported by business newspaper La Republica, Colombia will participate in the Mining Investment Show, to be held in Toronto, Canada. A Ministry of Mines and Energy committee, the National Mining Agency and Invest in Bogota, a subsidiary of the Chamber of Commerce will attend.

As reported by National business newspaper Portafolio, Fitch Ratings Colombia, a rating agency, estimated that the company Terpel will invest US$895 in the next five years, due to expected increases in sales.

The USO news this week is heavy on discontent at refineries with Cartagena refinery determining a strike date and Apiay refinery workers worried about losing their jobs. Ecopetrol plans to close the Apiay facility because of low productivity but workers accuse management of the problems. More workers in Meta face an uncertain future after Incoequipos, an oil services subcontractor closed its doors.

Incidents were up considerably again this week to 49 back to where things had been directly after the suspension of the Farc’s unilateral ceasefire. However most of the items were initiated by the Armed Forces which is a good sign. Our 4-week Moving Average was down very and it now sits at 43 incidents per week closer to what amounts to a long-term average.

This week was the week of the press statements and public speeches. The most important exchange was between the President and “Ivan Marquez” who heads or at least is the visible leader of the guerrilla team, but there was also an exchanges between Juan Camilo Restrepo, the Agriculture Minister and alias “Marquez”.

Norte de Santander is a crude producing department but it has no refineries. It is closer to Venezuelan refineries than Colombian ones and there is a large problem with contraband because Venezuelan gasoline is subsidized and Colombian is not. Thus service stations in the northeast have developed legally sanctioned supply chains into the neighbor country. Because of the turmoil in its neighbor, the Colombian government has stepped in to assure supply. From a MinMinas press release, translated and with commentary by Hydrocarbons Colombia.