Late Friday afternoon, the State Council issued a decision suspending existing fracking regulation. Recent governments have denied there was any regulation on fracking so it is not clear what the implications might be, nor is it clear what impact this might have on Ecopetrol’s (NYSE:EC) proposed trial.
The non-public oil sector proposed pilot fracking projects in the Magdalena Medio Valley (VMM) to show Colombians that these projects could be developed in a friendly way with the environment. However, the National Agency of Environmental Licenses (ANLA) decided against this alternative.
National USO representative, José Marín Moreno, spoke about the new government and Ecopetrol’s (NYSE:SE) future, among other issues.
Last week’s article updating our oil price and future’s charts gave the Analyst an inspiration. Unfortunately, the ‘muse’ appeared just when he was already up against the deadline so it had to wait for this week.
The Minister of Mines and Energy (MinMinas) announced that 10 experts will define the future of fracking in Colombia. We looked at who was appointed, what might be known about their pre-conceptions and what the implications might be.
Geopark Limited (NYSE: GPRK) announced its financial results for the third quarter 2018. The company reported record oil and gas production and Colombia keeps increasing its participation in this key metric. The firm announced its 2019 work program and investment guidelines.
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