NRGBriefs: Colombia Boosts Reserves; Trinidad’s Young Talks Gas on CNN

(Energy Analytics Institute, 10.May.2022) — Energy briefs including Colombia’s National Hydrocarbon Agency (ANH) President Armando Zamora Reyes and Colombia’s Mines and Energy Minister Diego Mesa Puyo announcing during a joint press conference in Bogotá details of slight rises in the country’s crude oil and natural gas reserves; Trinidad and Tobago Minister of Energy and Energy Industries Stuart Young speaking with CNN about the twin-island nation’s gas potential and alternatives to Russian gas.

NORTH AMERICA

Allen Austin

US

JD Martin President and CEO Greg Baker revealed industry veteran Allen Austin has joined the co. effective 6 Jun. 2022. In a newly created role, as the VP of Renewable Energy and E-mobility division, Allen will lead efforts to deliver sustainability solutions to current and future customers, partners and stakeholders, the co. announced 10 May 2022 in an official stmt.

LATIN AMERICA AND THE CARIBBEAN

Colombia

— In 2021, Colombia boosted its reserves-to-production or R/P ratios for both oil and gas compared to 2020 levels, ANH President Armando Zamora Reyes, accompanied by Colombia’s Mines and Energy Minister Diego Mesa Puyo, announced during a joint press conf. held 10 May 2022 in Bogotá. Colombia’s oil R/P ratio rose to 7.6x in 2021 vs 6.3x in 2020, its highest level since 2009 while the country’s gas R/P ratio rose to 8x in 2021 vs 7.7x in 2020, the first time it has increased since 2017, Mesa said during the event.

Energy Analytics Institute (EAI) Quick Takeaway: While we applaud efforts from Colombia’s ANH and Mines and Energy Ministry and their joint efforts to re-engage oil and gas companies around exploration and other efforts, which resulted in small increases in both oil and gas reserves in 2021 compared to 2020, we are still worried about the lack of potential in Colombia as easily observed in its small Probable and Possible categories. If offshore gas exploration being pursued by Ecopetrol, Shell Colombia and Petrobras doesn’t turn up sizable gas reserves and fracking onshore is not allowed to move forward, Colombia could seriously face energy issues in the next 10 yrs despite its recent and aggressive push into the renewables space.

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Trinidad and Tobago

— Trinidad and Tobago Minister of Energy and Energy Industries Stuart Young spoke w/ CNN about the twin-island nation’s gas potential.

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By Ian Silverman, Aaron Simonsky, Piero Stewart and Pietro Donatello Pitts. © Energy Analytics Institute (EAI). All Rights Reserved.