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Pacific Rubiales would probably prefer Colombian politicians to think before they speak

Yesterday a prominent Colombian congressman, Simon Gaviria went on a national radio program and made a statement (which he attributed to the Finance Minister) about Pacific Rubiales that – if true – would have had a significant impact on the company’s future performance. We will not repeat it so we are not even accidentally responsible for continuing a rumor which is patently false./

Thursday, October 25th, 2012
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Larger companies are more efficient

Larger companies are more efficient

We have been collecting financial and operational data on the companies with significant production in Colombia. Our database goes back to 2009 and so far covers nine companies in depth. The seven in the chart are sufficiently mature for us to estimate their average Operating Income for the last year. Economic theory says that larger companies in terms of revenue should have better margins if only because they can spread their fixed costs over a bigger base. Sometimes larger companies lose this advantage by being bloated and inefficient.

Thursday, October 25th, 2012
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Pacific Rubiales getting push back from massive publicity campaign

Pacific Rubiales receives a lot of criticism in the alternative press for its massive publicity campaign. Image advertising is seemingly everywhere and the company is the major sponsor of the National Soccer Team. Websites like La Silla Vacia, Kien y Ke or RazonPublica.com speculate that the publicity is an attempt to buy the mainstream media and whitewash what must be terrible things the company must be doing.

Wednesday, October 24th, 2012
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Colombia’s “Contralora” loses control over environmental issues

Colombia’s Auditor General — known in Spanish as the Contralora — is supposed to be responsible for assuring that the nation’s resources are well spent and that revenues reflect economic activity. Lately however, Sandra Morelli Rico has become concerned that the Environment Ministry (MinAmbiente) has not been sufficiently vigilant on environmental issues, especially in the extractive sector. We commented on her letter about non-conventional hydrocarbons extraction here. On Monday, October 22nd the office published a report criticizing a number of projects in the extractive and energy sectors for reasons which — while they will play well to certain sectors of public opinion — in some cases appear to lack a basis in fact.

Wednesday, October 24th, 2012
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Colombian Hydrocarbons Industry Hotspots

Colombian Hydrocarbons Industry Hotspots

This is more fun than anything else at this point. We have taken our Security Incidents Near Hydrocarbons counts and color coded the departments. The more red the color the more incidents. The fewer, the “cooler” the situation and thus the department is “blue”. We have superimposed the outlines of the major basins for reference.

Wednesday, October 24th, 2012
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ACP says competitiveness of the oil sector may be affected by Congressional legislative initiatives

The Colombian Petroleum Association (ACP) has published a press release on the negative impacts of a number of laws initiated by Congress – which are not backed by the government – that seek to increase government take and give back to local communities part of what they lost in royalties. Translated and with commentary by Hydrocarbons Colombia.

Wednesday, October 24th, 2012
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