Incidents near areas of interest to the oil and gas industry were essentially unchanged at 31 consistent with the recent experience but slightly below the long-term average. However, non-Armed Forces incidents were above average at 19%. This is our indicator of increased guerrilla-initiated activity. Correspondingly, our 4-week Moving Average incident count was stable at 29.5 but the 52 week average dropped slightly to 34.3 incidents per week.
Colombian Foreign Minister, María Ángela Holguín and her Venezuelan counterpart Elías Jaua signed a memorandum of understanding in the name of the NOC of each country, Ecopetrol (NYSE:EC) and PDVSA, to connect oil pipelines at the border.
ProductionSecurity and public order problems took their toll on Colombia’s oil production in September as the daily average production rested at 995,000 barrels, compared to 1.031mmbd in August.
Last Sunday, October 13, marked the end of the 15th round of talks between the Farc and government negotiators. The positive hope that something would materialize during this round was in the end wishful thinking, and final agreement still looks a long ways away.
The Canada-Colombia Chamber of Commerce held a session recently at the University Sergio Arboleda with experts from both countries on the controversial topic of prior community consultation, and how they are applied in each country.
A local executive from Venezuela’s NOC PDVSA has said the firm will not extend a bilateral contract to procure Colombian gas, freeing up production for internal use, and forming another element beyond a market liberalization that should push gas prices down.
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