The President of the Organization of the Petroleum Exporting Countries (OPEC), Antonio Oburu Ondo, emphasized the essential role of oil in the world.
In its passion to avoid auctioning additional oil and gas exploration contracts, the Petro government wants to revive 39 blocks that the ANH has suspended at the companies’ request. Is there really an opportunity to “return the suspension request to sender” and create new reserves and production? And if so, how much production could be affected?
Oil companies operating in Colombia want the suspension of exploration contracts due to several challenges, including social conflicts, difficulties with prior consultation processes with local communities, environmental concerns and public safety issues.
Canacol Energy Ltd. (TSX: CNE) provided the following gas sales and operations update.
The Colombian government carries on with the plan for “vertical integration” between Ecopetrol and ISA, aiming to make the NOC a power generator and have a presence across the entire energy chain.
Major oil and gas companies have invested in clean energy during last years, but it seems like some are changing strategy.
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