Looking back a year, production for Pacific Rubiales grew 38% to reach 127,555boed, sequentially flat compared to the 127,889boed produced in the 1Q13. Profits in the quarter were US$57.6M, a 74.3% drop compared to last year and a 52.7% drop compared to 1Q13.
Ecopetrol’s transportation company Cenit is preparing a three pillared plan designed to reduce the industry’s costs associated with producing heavy crude as this takes a growing share of overall extraction in Colombia.
After coming out of a strike early this month union workers with the USO continued talks involving the labor conditions at the Cartagena Refinery (Reficar) as the union claims the company is forcing workers to work extra hours through intimidation.
In order to finance infrastructure investments in roads, bridges, airports and other items holding back Colombia’s development Ecopetrol should sell an additional 10% of its shares to private investors, says the president of Colombia’s National Association of Financial Institutions (ANIF).
At 13, this was the second lowest week we have had since we started collecting statistics at the beginning of 2Q12. This was an above average week for non-armed forces reported/guerrilla-initiated incidents. That dropped our 4-week Moving Average incident count down to 23.3 but the 52 week average was essentially stable at 38.5 incidents per week.
We picked up a story a few weeks ago that dead chigüiros had been found in an open tank at a Casanare installation belonging to Parex. A chigüiro is a rodent about the size of a dog or a small pig, indigenous to Colombia’s Llanos. We spoke to Parex to get their side of the story.
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