Archive for May, 2015

Headlines May 15 – 30th, 2015

These weeks Colombia’s oil and gas industry overview, your best bet to stay on top of the situation.

Pacific Pipeline advances, construction slated for 2017

The Pacific Pipeline is beginning to take shape and officials expect to conclude prior consultation this year, but construction will not likely get moving until the beginning of 2017…

Asset management more important in face of economic slowdown, says Aciem

Asset management and maintenance should be higher on the list of priorities for the oil industry, especially in the face of an industry slump, says the Colombian Association of Engineers (Aciem). While in Europe these activities generate more than 500,000 jobs and US$21B in services, there are no consolidated figures for Colombia…

Peace Process week of May 25: Will the talks hold?

Norway and Cuba are calling for the government and the Farc to try and preserve Havana peace negotiations after 40 guerillas were killed in three military attacks in Cauca, Antioquia and Chocó, leading the guerrilla to call off its unilateral cease fire…

Colombia not competitive on drilling costs

The cost of drilling a well is a key indicator to judge the competitiveness of one country versus another, and while Colombia ranks well in basic costs, the indirect costs associated with drilling that make it lose its shine compared to other regional producers.

ACP: Price drop not sole problem, dialogue needed in Putumayo

Putumayo has been hard hit by the fall in oil prices, but the overall impact of tax reforms and social conflicts, especially in Bajo Putumayo, are also taking a toll on the productive potential of the region. More dialogue is needed between the community and industry says the president of the Colombian Petroleum Association (ACP) Francisco Lloreda.

State council ruling on mining zones a blow, say industry reps

Colombia’s State Council suspended the legal effects of a norm issued by the National Mining Angecy and Ministry of Mines and Energy that created 516 mining zones, rules which had loosened prior consultation requirements. Industry representatives say this is a blow to the production potential and creates unclear rules.

Santos inaugurates Tenaris tubing plant

President Juan Manuel Santos inaugurated the expanded and renovated Tenaris’ (NYSE: TS) tubing production plant. The modernization project took 18 months to complete and required an investment of US$240M…

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Headlines First Two Weeks of May 2015

Colombia Oil and Gas 

MinMinas in NYC to promote sector

The Minister of Mines and Energy Tomás González attended an investment promotion event and greeted attendees with a message the Colombia has clear rules and vast potential for unconventional and offshore projects… 

How far will royalties fall?

A recent study from the Ministry of Mines and Energy (MinMinas) think tank UPME says that annual royalties could drop by as much as CoP$5.3T (US$2.18B) by 2024…

USO stokes Casabe conflict

Workers for the contractor Serpetec have been striking for 15 days, claiming their employer owes them several months’ salary. The workers have scheduled a rally in the Casabe field…

Why does this feel like something winding down?

Incident counts were down to 22 as were non-Armed Forces reported incidents but we do not like the qualitative feel of what is happening…

Big surprise: Reficar delayed again

At the end of November 2014, reports surfaced that the Cartagena Refinery would be functional in January 2015 and see its commercial launch in August 2015. But in Ecopetrol’s (NYSE:EC) latest earning results, management said that once again, that timeframe will be pushed back…

Half full or half empty: FND, controller crunch royalty numbers

With figures on the development of 6,770 royalty projects from 2012-14, the fact that 77.14% of projects have advanced to the hiring of services is being heralded by the National Federation of Departments (FND) while the Controller General is worried about those that have not advanced…

CSR Summary: Ecopetrol invests in Putumayo, Norte de Santander

Ecopetrol invests in Putumayo, Norte de Santander while the Cartagena Refinery (Reficar) was accepted into the Global Compact. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.  

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