Communities And CSR

    USO on fracking

    Communities and CSRThrough a nationalist statement, the union spoke about unconventional resources and the visit of US Vice president Mike Pence in Colombia. » Read More

    "Oil producing municipalities have a better quality of life": ACP

    Communities and CSRA report by the Colombian Petroleum Association (ACP) shows that 70% of the variables of the Multidimensional Poverty Index showed better results in oil producing regions than in those that do not develop oil activities. » Read More

    New anti-oil referendum in Putumayo?

    Communities and CSRThe boom of anti-oil and mining referendums continues to grow around Colombia. There is a new committee to carry out a referendum to approve or reject extractive projects in an important municipality of the Putumayo. » Read More

    The industry is committed to Colombia’s education

    Communities and CSRCompanies like Terpel, Equion, Ecopetrol (NYSE:EC) and Geo Park (NYSE: GPRK) reiterated their commitment to social investment programs by boosting education opportunities in Colombia. These and other Corporate Social Responsibility (CSR) stories in our periodic summary. » Read More

    SPE bets on education to smoothen the industry- community relations

    Communities and CSRThrough its Energy4me program, the Society of Petroleum Engineers (SPE) went to Putumayo and, with Ecopetrol’s (NYSE:EC) support, started a campaign to educate people with real facts, about the real impact of oil activities in their territories. » Read More

    Ecopetrol responds to criticism about its financial situation

    Communities and CSRUSO reported that after Razón Pública newspaper published the article titled "Ecopetrol, 2003-2017: bankruptcy induces privatization?" The NOC sent a letter to the journalist Libardo Sarmiento, author of the publication. » Read More

    Results of the dialogue between the industry and JAC in Rubiales

    Communities and CSRIndustry and Community Action Board (JAC) representatives met in Puerto Gaitán to discuss social issues and CSR projects. The local Municipal Administration said "yes to oil, but with responsibility." » Read More

    Decree could give environmental authority to indigenous communities

    Communities and CSRA draft decree from the Ministry of Environment (MinAmbiente) turned on the alarms for the oil, electricity and infrastructure sectors. » Read More

    USO rejects companies’ alleged breach of agreements

    Communities and CSRThe union said that protests have been taking place in the departments of Sucre and Cesar to reject the alleged breach of agreements by companies like Canacol, Ecopetrol (NYSE: EC) and Cenit. » Read More

    ANH hosted a dialogue session in Yopal

    Communities and CSRThe National Hydrocarbons Association (ANH) hosted the "Dialogue for Building a Vision for Territorial Development" roundtable in Yopal (Casanare), where industry and community members were able to discuss social and industry related issues. » Read More

    Company News

    Geopark 2Q17 results

    Company NewsGeopark Limited (NYSE: GPRK) announced its financial and operational results for the three-month period ended June 30, 2017.  The company achieved record consolidated production and extraction in Colombia keeps “climbing”. » Read More

    Bayón new CEO of ECP

    Eye on EcopetrolEcopetrol (NYSE: EC) announced that its current Chief Operating Officer, Felipe Bayón will take over as chief executive.  Juan Carlos Echeverry resigned for family reasons. This news generated many reactions.  » Read More

    Echeverry’s legacy to ECP

    Eye on EcopetrolAfter presenting his resignation to Ecopetrol’s (NYSE: EC) Board of Directors, Juan Carlos Echeverry spoke about his achievements in the NOC’s financial situation. » Read More

    Echeverry leaves Ecopetrol

    Company NewsCompany NewsEcopetrol’s (NYSE:EC) board of directors accepted the resignation of the company’s current president Juan Carlos Echeverry, filed for family reasons. Just in the past few days, Echeverry had spokenabout the NOC’s international strategy to increase reserves. » Read More

    Bioenergy reports record ethanol production

    Company NewsEcopetrol (NYSE: EC) reported a substantial increase in ethanol production during July. Its subsidiary, Bioenergy managed to register significant growth despite environmental difficulties in the Llanos Orientales. » Read More

    ECP bets on gas

    Eye on EcopetrolAs part of its diversification strategy, Ecopetrol (NYSE: EC) expects to attain 40% of its production from gas within 13 years. » Read More

    Frontera Energy 2Q17 results

    Company NewsFrontera Energy (TSX: FEC) announced its financial and operating results for the second quarter of 2017. The company reported a net loss and decrease in operating EBITDA and capital expenditure this quarter. » Read More

    ECP continues with positive financial results

    Eye on EcopetrolEcopetrol (NYSE: EC) announced its second quarter and first half 2017 results. The firm highlighted that net income reported for 1H17 was higher than net income of the whole year 2016. The NOC reduced its nominal debt in 2Q17 and its exploratory campaign is enjoying a high success rate.  » Read More

    Hupecol sues Colombia

    Company NewsAmerica's Hupecol asked for more than CoP$83B as compensation for the abrupt cancellation of the license it had in the Sierra de La Macarena. » Read More

    GTE announces 2Q17 results

    Company NewsGran Tierra Energy Inc. (TSX: GTE) announced its financial and operating results for second quarter of 2017. The company highlighted that its production increased and it had strong financial performance, despite reporting net loss during 2Q17. » Read More

    Concessions

    Mantilla McCormick talks about Agreement 2

    Regulation and PolicyAt an event hosted by consulting firm Willis Towers Watson, attorney Carlos Mantilla McCormick, expert on the Colombian energy sector, presented his vision on the Agreement 2. » Read More

    ANLA talks about the industry situation

    ExplorationClaudia González, director of the National Environmental Licensing Authority (ANLA) spoke about fracking and delays in decisions for the industry. » Read More

    ANH will tender 40 blocks this year

    ConcessionsBetween the end of July and the beginning of August of this year, the National Hydrocarbons Agency (ANH) will start offering new blocks, following the permanent allocation scheme that it announced recently. » Read More

    Canacol announces gas block farm-in

    Company NewsCanacol Energy Ltda (TSX: CNE) announced an agreement to a 50% farm-in with Pacific Exploration and Production (TSX: PEN) for a gas block near its other properties.  » Read More

    Amerisur increases its presence in Putumayo

    Company NewsAmerisur Resources Plc (LON: AMER) announced asset acquisitions in the Caguan-Putumayo Basin. The blocks were bought from Pacific Energy E&P (TSX: PEN).    » Read More

    ANH approves plan to reactivate the industry

    Regulation and PolicyThe National Government failed to receive about CoP$23.6T due to the oil price drop and the sector crisis affected everyone. In September 2015, the National Hydrocarbons Agency (ANH) announced improvements and incentives to boost the sector. Nearly a year-and-a-half later, finally, the new regulation has been approved.  » Read More

    Nothing happening

    ConcessionsThe graph shows the history of contracts signed by the National Hydrocarbons Agency (ANH). The post-2014 record is not inspiring. » Read More

    ANH publishes draft of assignment regulations

    Regulation and PolicyIn its first regulatory move since the exit of its president earlier this year, the National Hydrocarbons Agency (ANH) has published a draft of regulations which will govern a promised new assignment process. The agency will receive comments through September 18th, 2016. » Read More

    After 30 years, Cusiana heading back to Ecopetrol

    Eye on EcopetrolThe other major reversion (besides Rubiales), Ecopetrol (NYSE:EC) is set to receive the Cusiana field on July 4th, after the end of the Tauramena association contract, signed originally between BP (NYSE:BP) and Ecopetrol in 1986. » Read More

    Ecopetrol launches 2016 Round

    Eye on EcopetrolEcopetrol (NYSE:EC) has made good on promises to sell off its non-core assets, and has announced a ‘2016 Field Round’ in which it is auctioning 20 assets to the oil & gas industry. » Read More

    Downstream, Demand And Pricing

    MinMinas increases fuel prices

    Downstream Demand and Pricing

    The Ministry of Mines and Energy (MinMinas) announced an increase in fuel prices. The Federation of Freight Transport Businessmen (Fedetranscarga) spoke about the high cost of fuels in Colombia.  » Read More

    Gasoline prices decrease in July

    Downstream Demand and PricingThe Ministry of Mines and Energy (MinMinas) announced the first decrease in the fuel prices since December last year.  » Read More

    Consumers to benefit from fuel price liberalization

    Downstream Demand and PricingIndustry experts talked about how consumers would benefit from the liberalization of fuel prices in Colombia. » Read More

    Controller calls for gasoline price liberation

    Downstream Demand and PricingThe Comptroller General proposed changing the gasoline price policy in the country. It generated an interesting discussion.  » Read More

    Ecopetrol’s refining activity drops again

    Eye on EcopetrolDespite assurances that Reficar is now practically online, refining volume dropped at the NOCs flagship facility for the second straight quarter. » Read More

    Vasconia moves closer to Brent

    Downstream Demand and PricingVasconia is perhaps Colombias most emblematic crude oil blend and last quarter the discount fell again, reducing the gap to Brent. » Read More

    Fuel prices increase again

    Downstream Demand and PricingThe Ministry of Mines and Energy announced a new rise in the fuel prices in the country. It has grown consistently since January this year.  » Read More

    Consequences of a low oil price in 2016

    Regulation and PolicyLast year was difficult for the sector because of the continued oil price decline. The industry had to adapt to this environment and learn to operate with the lowest price in 12 years. » Read More

    “The Pacific coast plant will improve competitiveness”: Valle del Cauca associations

    GasValle del Cauca business associations defended the construction of the Pacific coast regasification plant because according to them, is an important competitiveness element for Colombia. » Read More

    The magic formula does its magic once again

    Downstream Demand and PricingThe graph shows fuel producer prices what Ecopetrol (NYSE:EC) receives which are unaffected by the so-called Green Tax. We think the graph shows Colombians are still paying too much although the gap has reduced somewhat. » Read More

    Environment

    Locals are concerned about oil spills

    EnvironmentThe government showed its commitment to comply with the Paris Agreement and increase eco-friendly initiatives in Colombia, but oil spills in Nariño and Magdalena were a cause for concern among the locals. » Read More

    Attacks on Ecopetrol’s infrastructure cause environmental damage

    EnvironmentEcopetrol (NYSE:EC) reported that oil taps in the Quililí field have led to oil spills that are threatening local water sources, and communities in Santander denounced environmental damage to their territories. The development of these and other stories in our periodic Eco summary. » Read More

    Arbeláez and Pijao say no

    Regulation and PolicyAnti-oil and mining referendums continue in different regions of the country and it is affecting mining and oil projects. Arbeláez and Pijao carried out these legal mechanisms to allow or reject the development of the mining and oil industry in their territories. As expected, the results were negative for the sectors. » Read More

    ECP’s Offshore license is just for exploration: says ANLA

    EnvironmentThe National Environmental Licensing Authority (ANLA) granted an environmental license to Ecopetrol (NYSE: EC) to develop offshore activities in front of La Guajira. The ANLA explained this decision. » Read More

    Centro Democratico proposes seven initiatives to improve the industry’s performance

    Regulation and PolicyDuring the Hydrocarbons Forum that took place in Yopal (Casanare,) former President Álvaro Uribe and his five pre-candidates for the presidency made recommendations to achieve a more sustainable and progressive oil activity in Colombia. » Read More

    Oil spills are still a cause for concern in Casanare

    EnvironmentEcopetrol (NYSE:EC) helped rebuild reefs in the departments of Sucre, Nariño and Magdalena, but oil spills in Casanare affected the fauna and flora of the department. The development of these and more stories in our periodic Eco Summary. » Read More

    Perenco’s environmental emergency

    EnvironmentAn environmental emergency took place in the Sirivana village, in the municipality of Nunchia (Casanare,) where apparently old pipelines from the company Perenco Colombia Limited caused an oil spill over a large water stream. » Read More

    Ecopetrol reported environmental incidents in Santander

    EnvironmentEnvironmental emergencies took place at Ecopetrol’s (NYSE:EC) El Llanito field and La Selva village in Santander. The development of these and more stories in our periodic Eco Summary. » Read More

    ANLA strengthens water monitoring

    EnvironmentThe National Environmental Licensing Authority (ANLA) participated in the first water monitoring workshop 2017-2018, organized by the Canadian Corporation and the Agri team Foundation. Plans were announced to strengthen the sector. » Read More

    "Yes to water, and to oil too:" Ecopetrol

    EnvironmentIn a press release, the NOC explained why environment and oil activities are compatible. » Read More

    Exploration

    Campetrol on fracking

    Representatives of the sector have been giving their opinion on the alternative of developing oil projects through fracking. German Espinosa, President of the Colombian Chamber of Goods and Services (Campetrol) spoke about this option and its implications in the country. » Read More

    Gas exploration platform ready to operate

    ExplorationThe offshore industry is preparing to start operations in Colombia and local authorities in Cartagena announced that a gas exploration platform is ready to start working in the country. There are high expectations in the cities of the Colombian coast about the offshore sector’s benefits. » Read More

    Cartagena: becoming an offshore operation center

    InfrastructureLocal authorities spoke about the city’s progress towards becoming an important offshore operation center in the Caribbean region. » Read More

    Oil companies keep investment programs, despite threats: says ACP

    ProductionThe oil sector is facing difficult times due to the boom of anti-oil referendums. The Colombian Petroleum Association (ACP) published itsE&P Investment Trend Study. The association interviewed 21 presidents of oil companies in Colombia, which represent 97% of crude production. » Read More

    CPO-9 could be one of the most important fields in Colombia

    Eye on Ecopetrol Ecopetrol (NYSE: EC) wants to start recovering the lost reserves as soon as possible. CEO, Juan Carlos Echeverry, talked about the firms' prospects for ill-starred block CPO-9. » Read More

    Offshore gas discoveries are key for self-sufficiency

    GasColombian oil industry has announced gas discoveries in the Caribbean Sea recently. It increased reserves and several experts are talking about this topic. » Read More

    Rig count keeps growing

    ExplorationThe Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for June. This metric is growing, despite low prices and social unrest.  » Read More

    “Fracking is insurance for oil self-sufficiency”: Juan Carlos Echeverry

    ExplorationEcopetrol’s (NYSE: EC) president said that the company will focus on the production of shale oil in the Middle Magdalena Valley. » Read More

    MinMinas highlighted the sector's benefits in Meta

    Eye on EcopetrolThe sector is facing a boom of popular referendums, which is creating legal uncertainty among investors. Germán Arce, MinMinas, spoke about the sector and its benefits for country and the department of Meta. » Read More

    ANLA talks about the industry situation

    ExplorationClaudia González, director of the National Environmental Licensing Authority (ANLA) spoke about fracking and delays in decisions for the industry. » Read More

    Infrastructure

    Cartagena: becoming an offshore operation center

    InfrastructureLocal authorities spoke about the city’s progress towards becoming an important offshore operation center in the Caribbean region. » Read More

    Coveñas / Caño Limón has been closed 56 days

    Security and Public OrderThe Coveñas / Caño Limón pipeline, one of the main assets of the country to transport crude, continues to report problems from attacks and this is generating huge losses. Ecopetrol (NYSE: EC) commented on the status of this important pipeline. » Read More

    Echeverry on Barrancabermeja refinery

    InfrastructureThere has been much discussion about the Barrancabermeja refinery’s future. Some have said that Ecopetrol (NYSE: EC) will close it, but the company has denied that. Juan Carlos Echeverry, CEO of ECP talked about the refinery situation and his perspectives in an interview with El Espectador. » Read More

    Problems with Madgalena river projects

    InfrastructureColombian authorities want to leverage the navigability of the Magdalena River. There are many projects working to achieve this, but investigations are emerging about possible irregularities. » Read More

    DNP to boost projects through royalties

    InfrastructureThe National Department of Planning (DNP) wants to boost projects through mining and oil royalties around Colombia. Luis Fernando Mejía, Director of DNP, talked about this strategy. » Read More

    ICP to Invest in Infrastructure

    InfrastructureThe Colombian Petroleum Institute (ICP) is the main research center of the industry in the country. ICP announced investments to support Ecopetrol's 2017-2020 business plan (NYSE: EC). » Read More

    Big investments in Magdalena River for crude transport

    InfrastructureThe sector is investing in oil transportation infrastructure in the country. The industry is betting on transporting at least some of the crude through the Magdalena River. » Read More

    Alliance between Canacol and Promigas

    InfrastructureThe Colombian Caribbean coast has many challenges in energy matters and suffers many shortages. Promigas and Canacol Energy (TSX: CNE) are analyzing options to improve this aspect. » Read More

    Government to issue new rules to improve gas transportation

    InfrastructureThe executive director of the Energy and Gas Regulatory Commission (CREG), Germán Castro, said that the government will be more involved in building strategic infrastructure for the sector and will issue new standards to improve it. » Read More

    Quantity down but that does not mean much to Arauca

    Security and Public OrderOur count of security incidents near oil and gas infrastructure that we attribute to the guerrilla went down this month. But considering the impact, mere numbers are not telling the whole story. » Read More

    Other Voices

    Campetrol highlights offshore industry challenges

    Other VoicesThe Colombian Caribbean region has high expectations about the benefits of the offshore industry. German Espinosa, President of the Colombian Chamber of Goods and Services (Campetrol) talked about challenges to supply operations. » Read More

    Colombia is one of the countries with lowest investment in renewable energies

    Other VoicesSome other countries that allocate few resources to generate alternative energies are Venezuela and Argentina. » Read More

    Oil vs water

    EnvironmentWith the title “Fracking vs clean development mechanisms” a Llanos Internet news site tries to cover all the sides of the water issue but ends in a predictable conclusion. » Read More

    USO news summary for the week ending December 7, 2012

    Other VoicesThis week the USO reported on its national assembly and its plans to create an occupational health department. More important is a news item on hearings in Villavicencio on the social and environmental impacts of the mining and hydrocarbons sectors in the department of Meta. A left-wing senator, Alexander López Maya told the hearing that working conditions in Puerto Gaitan were typical of a concentration camp. That’s strange considering that Pacific Rubiales told a conference on sustainable communities and petroleum last Friday that it had no community or labor relations issues in Puerto Gaitan. Although the truth is no doubt somewhere between zero and the Gulag archipelago, we are inclined to think it very much closer to the company’s point of view than one reported by the USO.  » Read More

    USO news summary for week ending November 23, 2012

    Other Voices(The USO is the Colombian petroleum workers union. Unrepentantly radically left, it often seems trapped in some Marxist-Leninist twilight zone from before the fall of the Berlin Wall or perhaps before the Second World War. Still its capacity for mischief is unmistakable and so we believe it is important for oil and gas industry stakeholders to keep track of what they are up to. We will summarize major news items from their webpage or other sources and publish the summary every Monday. We will reproduce the tone of their items while not agreeing with their messages.)  » Read More

    What is the labor situation in Colombia?

    Communities and CSR
    October 10, 2012
    After a union leader told RCN Radio that recent riots in Puerto Gaitan that killed three people were because "Pacific Rubiales has not kept its commitments", the company was forced to issue a statement that this was not true. The company's explanation fits the facts better: that a policeman ran over and killed a small child, the community wanted to lynch him, his fellow policemen defended him and a riot broke out. » Read More

    GeoPark reports 1H12 results -- highlights Colombian operations

    Chile-based GeoPark reported its first half 2012 results in a press release, highlighting acquisitions in Colombia that increased production and successful exploration in Colombia as well.

    The company closed two acquisitions in Colombia in the first half and that contributed 88% of the 194% increase in revenues that the company recorded. The price was US$105M and revenue contribution for the first half was US$36M which should make the CFO and the shareholders happy.Company News » Read More

    Regulation And Policy

    General Comptroller evaluates ANLA performance

    Regulation and PolicyThe General Comptroller´s office conducted an evaluation of the management of the National Environmental Licensing Authority (ANLA) during 2016. The results were negative. » Read More

    Infrastructure for taxes?

    Regulation and PolicyThe government is analyzing a decree that could help mitigate the tension between the industry and communities; so far, feedback on the infrastructure for taxes initiative has been positive. These and other stories in our Royalties periodic summary.  » Read More

    Campetrol highlights offshore industry challenges

    Other VoicesThe Colombian Caribbean region has high expectations about the benefits of the offshore industry. German Espinosa, President of the Colombian Chamber of Goods and Services (Campetrol) talked about challenges to supply operations. » Read More

    "We are studying 557 license applications": ANLA

    Regulation and PolicyClaudia González, director of the National Authority for Environmental Licenses (ANLA) gave a positive outlook forthe industry’s situation in Colombia. » Read More

    August starts with a positive performance on SGR projects

    Regulation and PolicyThe National Planning Department (DNP) announced that there are almost CoP$12T accumulated in royalties budget all over Colombia, but departments have already started to present projects in different areas to the Collegiate Bodies for Administration and Decision (OCAD.)   » Read More

    Santos on popular referendums

    Regulation and PolicyThe boom in anti-oil and mining referendums is generating a lot of uncertainty with companies and investors. Juan Manuel Santos, President of Colombia, spoke about this issue (for the first time in a while) in a business meeting. » Read More

    New corruption scandal

    Eye on EcopetrolCorruption cases in Colombia are unfortunately common and there is a new one emerging. The Colombian Attorney General’s office conducted an investigation against Cúcuta former judges, whose decisions affected Ecopetrol (NYSE: EC). » Read More

    Cut backs in MinMinas

    Regulation and PolicyExperts in the energy industry said that with such a drastic cut in the industry’s budget; about 10 million users could lose their access to energy service. » Read More

    Cárdenas on popular referendums

    Regulation and PolicyThe country is facing times of high legal uncertainty because of the boom in popular consultations against the oil and mining sectors. Mauricio Cárdenas, Minister of Finance, talked about this situation and consequences of these actions. » Read More

    Congressman wants to increase direct royalties

    Regulation and PolicyAn initiative to improve the direct allocation of royalties to oil producing regions was filed by Congressman Jorge Camilo Abril, and Collegiate Bodies for Administration and Decision (OCAD) in Magdalena and Bogotá announced the development of new projects. These and other stories in our Royalties periodic summary. » Read More

    Security And Public Order

    New anti-oil referendum in Putumayo?

    Communities and CSRThe boom of anti-oil and mining referendums continues to grow around Colombia. There is a new committee to carry out a referendum to approve or reject extractive projects in an important municipality of the Putumayo. » Read More

    Ecopetrol and ACP on attacks in Castilla and Chichimene

    Security and Public OrderThrough statements, the Colombian Petroleum Association (ACP) and Ecopetrol (NYSE: EC) rejected the violent acts that were registered in the Castilla and Chichimene fields in Meta. » Read More

    Authorities gave a positive report on security operations

    Security and Public OrderNational authorities reported the seizure of more than 3,000 gallons of fuel in the departments of Nariño, Norte de Santander, Arauca and Meta. The development of these and other stories in our periodic Security summary.  » Read More

    ECP denounces violent takeover of Chichimene station

    Security and Public OrderIllegal actions against Ecopetrol (NYSE: EC) infrastructure remain a major headache for the NOC. The company denounced a new violent incident at its facilities in the department of Meta. » Read More

    Ibagué bans mining

    Security and Public OrderColombian regions continue to block the development of the mining industry; this time it is Ibagué, Capital of the department of Tolima. Camilo Delgado, a member of the Liberal Party, spoke about this decision. » Read More

    Oil companies keep investment programs, despite threats: says ACP

    ProductionThe oil sector is facing difficult times due to the boom of anti-oil referendums. The Colombian Petroleum Association (ACP) published itsE&P Investment Trend Study. The association interviewed 21 presidents of oil companies in Colombia, which represent 97% of crude production. » Read More

    The industry has visited 51 municipalities to talk about popular consultations

    Security and Public Order The president of the National Hydrocarbons Agency (ANH,) Orlando Velandia, spoke about the information program that the industry is currently developing throughout the country. » Read More

    Authorities report a 70% increase in judicialization processes for oil theft

    Security and Public OrderDuring 2017, authorities in La Guajira, Cesar and Nariño reported better figures in the fight against oil theft, but Ecopetrol (NYSE: EC) demanded more surveillance in Norte de Santander. The development of these and other stories in our periodic Security summary. » Read More

    Coveñas / Caño Limón has been closed 56 days

    Security and Public OrderThe Coveñas / Caño Limón pipeline, one of the main assets of the country to transport crude, continues to report problems from attacks and this is generating huge losses. Ecopetrol (NYSE: EC) commented on the status of this important pipeline. » Read More

    Peace at last?

    Security and Public OrderThis is the first time in over 4 years that there is nothing to report on the peace process. Our Managing Editor speculates on what that might mean. » Read More