The International Energy Agency (IEA) raised the global demand for oil for the third consecutive month, projecting a global consumption increase of 1.24 million barrels per day (bpd) by 2024. As the world anticipates higher demand, some Latin American countries are strategically positioning themselves in the race for oil production.
The Ministry of Mines and Energy congratulated Ecopetrol (NYSE: EC) and Parex for the exploratory well Arauca-8 in the municipality of Saravena, discovered under the Arauca Agreement. However, the NOC released a statement clarifying some things about the well.
The Colombian Association of Petroleum Engineers (Acipet) announced the appointment of a new Executive Director.
Colombian industry, including the oil sector, use the Magdalena River to haul goods to the Caribbean Sea. Unfortunately, the river constantly silts up. The director of Cormagdalena, Álvaro Redondo, talked about the Barranquilla port dredging contract.
Gran Tierra Energy Inc. (TSX: GTE) announced the company’s 2023 year-end reserves.
Reconsideration of a proposal from the Ministry of Finance (MinHacienda) of royalties deductibility is back on the table, courtesy of the Constitutional Court’s Plenary.
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