Our Powerpoint presentation on the country’s hydrocarbons industry is a wealth of information for those starting out or needing a few facts.
Our Monthly Report for February 2013 is now available for download (see below).
As broadly reported, the government and the FARC achieved the first real progress in the peace talks. In this regard, alias “Ivan Marquez” said: “We finished this round of talks with progress, which speaks well of our desire for peace, despite the unfounded assertions of President Juan Manuel Santos,” adding: “We are building an agreement that now is approaching about five pages (…) never has a peace process advanced so much.”
Firstly, Pacific Rubiales shareholders should not be concerned. Management did its job and proved (1P) and probable (2P) reserves both increased over 2011 thanks to the Z-1 Block in Peru and the acquisitions of PetroMagdalena and C&C Energy in Colombia. The company has made strategic plays in Papua New Guinea, Guatemala and Guyana that are not yet reflected in either proved or probable reserves. But stepping back and looking at the Colombian results to understand what is happening with the industry as a whole, the picture is far less rosy, as seen in the above graph.
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.
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