Late Thursday – after our closing of course – MinMinas published reserves for 2016 and announced that the long-awaited Agreement 2 had been signed.
OK. Maybe ‘smiling’ is too much to ask of a CFO; scowling and grimacing less perhaps. Prices are up; costs are stable; netback is up. What more could a CFO ask for? OK. Maybe even higher prices. More on that later.
The National Hydrocarbons Agency (ANH) published oil and gas reserves in Colombia at the end of2016. As expected, these registered a decrease compared to 2015 figures. The ANH highlighted that contingent resources increased.
Once again, Gran Tierra (TSX:GTE) has been forced to suspend activities at El Porton in Yopal, Casanare because of community concerns about environmental impact, despite the ANLA’s support for the company’s license.
USO has been leading protests against Ecopetrol’s (NYSE:EC) management decisions. The Union joined Catatumbo’s mobilizations, blocked Barrancabermeja’s refinery entrance and stopped activities atthe San Fernando Station.
Francisco Lloreda, president of the Colombian Petroleum Association (ACP) questioned the current General System of Royalties (SGR.)
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