Pacific Rubiales (TSX:PRE) is planning to invest US$2B in 2014 with 30-35% going towards exploration, but says it is not currently planning any acquisitions after its recent buy of Petrominerales (TSX:PMG).
This week the political party of former President Alvaro Uribe chose its candidate for next year’s presidential election and already the dialogue in the media seems to be between President Juan Manuel Santos and Óscar Iván Zuluaga, representing Uribe’s ideology, adding another layer of complexity to the peace negotiations.
The Ministry of Environment and Sustainable Development (MinAmbiente) released a report on the policy strategy and development of economic and environmental issues along the Magdalena River.
Ecopetrol president Javier Gutiérrez says that higher hydrocarbons prices, a favorable exchange rate and historic production levels have contributed to positive results for the 3Q13, but that attacks on transport infrastructure and community blockades remain a worry for the NOC.
A perfect storm of terrorist attacks on oil infrastructure in Caquetá, Putumayo and Meta along with extended mining and agricultural strikes have contributed to a 43% increase in emergencies stemming from crude leaks in January to September 2013, compared to all of 2012.
Following a debate in Colombia’s Senate on royalties, the country’s Finance Minister Mauricio Cárdenas told press that the government would increase the resources available by CoP$1.5T (US$795M), but did not address structural and implementation concerns.
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