Category: Colombia
Colombia energy
Colombia Names Minister Of Mines And Energy
(Colombia’s Ministry of Mines and Energy, 18.Dec.2018) — María Fernanda Suárez Londoño is a Business Administrator from the College of Superior Studies in Management (CESA) and has a Master’s Degree in Management of Public Policies from the University of Georgetown. She has over 20 years of experience within the public […]
Frontera Announces Shareholder Value Enhancement Initiatives
(Frontera Energy, 6.Dec.2018) — Frontera Energy Corporation announced full year 2019 plan and guidance information. All values in this news release and the company’s financial disclosures are in United States dollars, unless otherwise noted. Gabriel de Alba, Chairman of the Board of Directors, said: “Frontera’s 2019 plan delivers on the […]
Frontera Energy Announces Dividend
(Frontera Energy, 6.Dec.2018) — Frontera Energy Corporation announced that its board of directors has declared dividend of C$0.33 per common share, which will be paid in cash on January 17, 2019 to shareholders of record at the close of business on January 3, 2019. The dividend is designated as an […]
Colombia Temporarily Suspends Search For Electricaribe Buyer
(Reuters, 1.Dec.2018) — The government ordered the liquidation of the company – a subsidiary of Spain’s Gas Natural – in March 2017 because of service provision failures, after taking temporary control of Electricaribe’s assets. Colombia has temporarily suspended its search for a buyer for beleaguered energy company Electricaribe, President Ivan […]
Ecopetrol Announces Redemption Of International Bond Issued In 2009
(Ecopetrol, 27.Nov.2018) — Ecopetrol S.A. provided a Notice of Redemption to the Noteholders of its 7.625% Notes due 2019 issued on July 23, 2009 in the aggregate principal amount of $1,500 million and with an original maturity date of July 23, 2019. The Redemption Date will be December 27, 2018. […]
Ecopetrol Eyes Investments Of $3.5-$4 Billion In 2019
(Ecopetrol, 27.Nov.2018) — Ecopetrol S.A. reported that in 2019 the Ecopetrol Business Group (GEE) expects to invest between $3.5 and $4billion, up 16% to 33% over the projected 2018 figure. The plan approved by the Board of Directors aims to ensure the company’s strategy of growth and consolidation, with efficient, […]
Ecopetrol Reveals Highlights Of Investment Plan 2019
(Ecopetrol, 27.Nov.2018) —The Ecopetrol Business Group (GEE) expects investment in 2019 of $3.5 billion to $4 billion, up 16% to 33% over the projected 2018 figure, according to Colombia’s state oil company Ecopetrol. Investment Plan Highlights — The investment plan approved by the Board of Directors focuses on maintaining the […]
LatAmNRG Chart Analysis: Venezuela’s R/P Rises As Oil Output Plunges
(Energy Analytics Institute, Pietro D. Pitts, 24.Nov. 2018) — Venezuela is suffering a complete meltdown across all sectors. The Venezuelan oil sector, which generates upwards to 95% of the country’s foreign currency revenues, is in a precarious state to say the least as oil output continues its downward trend. Interesting […]
LatAmNRG Panorama 22.Nov.2018: Venezuela, Colombia, Argentina
(Energy Analytics Institute, Piero Stewart and Aaron Simonsky, 22.Nov. 2018) — Heard on the street and other LatAmNRG briefs from OPEC producer Venezuela, and neighboring Colombia, emerging shale gas producer Argentina. Heard On The Street And Briefs Venezuelan Oil Workers Protest In Zulia A group of oil workers marched to […]
Frontera Extends Consent Solicitation Relating To Senior Notes
(Frontera Energy, 20.Nov.2018) — Frontera Energy Corporation announced (i) an extension of its consent solicitation and (ii) a change to the consent fee payable to consenting noteholders with respect to its previously announced consent solicitation to holders of the company’s $350 million aggregate principal amount of 9.700% Senior Notes due […]
Frontera To Commence Solicitation Related To 9.7% Senior Unsecured Notes
(Frontera Energy Corporation, 12.Nov.2018) — Frontera Energy Corporation intends to commence a consent solicitation to amend the indenture governing its outstanding 9.7% Senior Unsecured Notes due 2023. The company is proposing to amend certain restrictions relating to “Limitations on Restricted Payments” in the Indenture to, among other changes, replace an […]
Ecopetrol Activates Contingency Plans In Cedeño District
(Energy Analytics Institute, Piero Stewart, 11.Nov.2018) — Ecopetrol announced it has activated contingency plans after a new attack on the Caño Limón-Coveñas pipeline located in the Cedeño district, in the municipality of Toledo, Norte de Santander. “At Ecopetrol, we reiterate our rejection to any type of activity that endangers the […]
Colombia’s Cano Limon Pipeline Hit By New Bomb Attack
(Reuters, 10.Nov.2018) — Colombia’s state-run oil company Ecopetrol said on Saturday it was mounting another cleanup operation after a bomb attack on the Cano Limon pipeline. The attack is the 78th this year on the 485-mile (780-km) pipeline, which has been out of service for much of 2018 because of […]
New Attack On Colombia’s Caño Limón-Coveñas Pipeline
(Energy Analytics Institute, Aaron Simonsky, 8.Nov.2018) — Colombia’s state oil company Ecopetrol revealed video coverage of the most recent attack on the company’s Caño Limón-Coveñas oil pipeline located in Boyacá. No further details are available yet, but the company has initiated a contingency plan, announced Ecopetrol official Mauricio Tellez in […]
Frontera Energy Announces 3Q:18 Ops, Financial Results
(Frontera Energy, 7.Nov.2018) — Frontera Energy Corporation released its Interim Condensed Consolidated Financial Statements for the third quarter of 2018, together with its Management, Discussion and Analysis (MD&A). These documents will be posted on the Company’s website at www.fronteraenergy.ca and SEDAR at www.sedar.com. All values in this news release and […]
Scania Announces Record Gas Bus Delivery To Bogotá
(Scania, 6.Nov.2018) — In its largest gas bus delivery ever, Scania will supply 481 Euro 6 gas buses – the cleanest and most silent buses on the market – for the renewal of Bogotá’s TransMilenio Bus Rapid Transit system. Bogotá is replacing its earlier Euro 2 and Euro 3 buses […]
Ecopetrol Attends Oil Spill In Tibú River
(Energy Analytics Institute, Aaron Simonsky, 5.Nov.2018) — Colombia’s state oil company Ecopetrol installed a series of barriers in a rural area of the Tibú municipality (Norte de Santander) in an effort to contain an oil spill in the Tibú River. The spill originated over the weekend when stolen crude oil […]
Canacol Energy 3Q:18 Results Release, Conference Call Date
(Canacol Energy Ltd., 2.Nov.2018) — Canacol Energy Ltd. will announce its third quarter 2018 financial results after the market close on Tuesday, November 13, 2018. Senior Management will hold a conference call to discuss results on Wednesday, November 14 at 8:00am MST / 10:00am ET. The conference call may be […]
Ecuadorian Armed Forces Discover Fuel Tanks Destined For Smuggling
(Energy Analytics Institute, Aaron Simonsky, 2.Nov.2018) — Ecuador’s Joint Task Force Armed Forces discovered 38 tanks filled with 55 gallons of fuel in an operation carried out on October 31, 2018. The tanks were being stored in a house in El Caucal, in the parish of Ancon de Sardinas in […]
Ecopetrol Could Invest $3-3.5 Bln In 2019, Same As This Year
(Reuters, 1.Nov.2018) — Colombian state-run oil company Ecopetrol will likely invest between $3 billion and $3.5 billion in 2019, the same figure as forecast for this year, its chief executive officer said on Thursday. The spending is the backbone of an ambitious plan to boost production and explore for more […]
Ecopetrol Boasts 67% Exploration Success Rate To-date In 2018
(Energy Analytics Institute, Piero Stewart, 1.Nov.2018) — Colombia’s state oil company Ecopetrol is boasting a 67% exploration success rate based on six completed wells thus far in 2018. Of the six wells, two were abandoned and 4 were successful, reported the company in its third quarter results update. Three other […]
Ecopetrol Business Group Reports 3Q:18, Year-To-Date 2018 Results
(Ecopetrol S.A., 31.Oct.2018) — Ecopetrol S.A. announced the Business Group’s financial results for the third quarter and year-to-date 2018, prepared in accordance with International Financial Reporting Standards applicable in Colombia. The figures included in this report are not audited. Financial information is expressed in billions of Colombian pesos (COP) or […]
Ecopetrol Profit Nearly Triples On Oil Price Boost
(Reuters, Julia Symmes Cobb, 31.Oct.2018) — Ecopetrol, Colombia’s state-run oil company, said on Wednesday its third-quarter net profit rose to 2.77 trillion pesos ($866.5 million), up 177 percent from the same period last year, thanks to higher global crude prices and increased output. The company plans to invest between $3 […]
Colombia Plans Mexico-Style Oil Hedge After Recent Volatility
(Bloomberg, Matthew Bristow, 31.Oct.2018) — Colombia is planning to hedge its oil exports to protect the government from the violent swings in revenue it suffered in recent years. The financing bill to be presented to Congress Wednesday proposes the creation of a fund that can buy derivatives from “foreign entities […]
Pioneer Energy Services Reports 3Q:18 Results, Updates On Colombia
(Pioneer Energy Services, 30.Oct.2018) — Pioneer Energy Services reported financial and operating results for the quarter ended September 30, 2018. Third quarter and recent notable items include: — Domestic drilling fleet was fully utilized during the third quarter, and generated an average margin per day of $10,237, up 7% from […]
Colombia’s Ecopetrol Advances With Fracking Plans, Seeks License
(Energy Analytics Institute, Piero Stewart, 30.Oct.2018) — Colombia’s state oil company Ecopetrol has requested an environmental license over an area where it plans to begin a pilot project to explore crude oil in unconventional deposits with the hydraulic stimulation technique known as fracking. If a permit from Colombia’s National Environmental […]
Ecopetrol Seeks License To Start Fracking Tests In Colombia
(Reuters, Luis Jaime Acosta, 29.Oct.2018) — Colombia’s state oil company Ecopetrol has requested an environmental license to launch a pilot plan to explore for crude oil from unconventional deposits using fracking technology, its chief executive said. Felipe Bayon told Reuters late on Friday the plan, which could triple Colombia’s proven […]
Caño Limón-Coveñas Has Suffered 1,470 Attacks In Ten-Plus Years
(Energy Analytics Institute, Piero Stewart, 27.Oct.2018) — Throughout its history, the Caño Limón-Coveñas pipeline in Colombia has suffered an estimated 1,470 attacks and has been out of operation the equivalent of more than 10 years, according to figures from Colombia’s state oil company Ecopetrol. Attacks against the oil infrastructure have […]
Frontera Sets Date For 3Q:18 Financial and Ops Update, Conference Call
(Frontera Energy, 26.Oct.2018) — Frontera Energy Corporation announces that its third quarter 2018 results will be released after market on Wednesday, November 7, 2018 followed by a conference call and webcast for investors and analysts on Thursday, November 8, 2018 at 8:00 a.m. (MST), 10:00 a.m. (EST, GMT-5). Participants will […]
Ecopetrol Announces Timing Of 3Q:18 Earnings Report, Conference Call
(Ecopetrol, 25.Oct.2018) — Ecopetrol S.A. announces that on October 31st, 2018 after market close, it will release its financial and operating results for the third quarter of 2018. On Thursday, November 01st, Ecopetrol’s senior management will host two conference calls to review the results. Please find below the timing, dial-in […]
Ecopetrol Cleans Spill After Bomb Attack On Cano Limon Pipeline
(Reuters, 25.Oct.2018) — Colombia’s state-run oil company Ecopetrol is carrying out a clean-up operation after a bomb attack on the Cano Limon pipeline spilled crude into a waterway, the company said in a statement on Thursday. The attack on Wednesday, the seventy-sixth on the pipeline this year, had no immediate […]
Colombian Court Rules Community Referendums Cannot Block Mining, Oil Projects
(TeleSur, 13.Oct.2018) — The Colombian Constitutional Court has ruled to restrict the power of popular consultations to halt extractive projects. Colombia’s Constitutional Court ruled in favor of a Mansarovar Energy, a transnational oil and natural gas company, and against Indigenous communities in the municipality of Cumeral Thursday. The judgment, however, […]
IFC, Related Funds Exercise Rights Under the Pacific Midstream Limited Agreement
(Frontera Energy, 10.Oct.2018) — Frontera Energy Corporation announced the International Finance Corporation (IFC) and related funds have provided notice to the Company that they have exercised their right under the Pacific Midstream Limited (PML) shareholders agreement to receive without further payment additional shares in PML, as a result of certain […]
Frontera Energy Announces Exploration Discovery in Colombia
(Frontera Energy, 10.Oct.2018) — Frontera Energy Corporation announced a light oil discovery from its Acorazado-1 exploration well on the 100% owned and operated Llanos-25 block in Colombia. Frontera also provided an operational update highlighting current production, major project activities and details regarding the fourth quarter drilling campaign. Richard Herbert, Chief […]
Cutting India’s Dependence on Middle-East Oil: 60% More Oil Lifted from Colombia
(Financial Express, Huma Siddiqui, 9.Oct.2018) — With the India-Colombia bilateral trade $1.5 bn, India lifted oil close to $ 400 million from January to July this year– an increase of 60% in the same period of the previous year. With the India-Colombia bilateral trade $1.5 bn, India lifted oil close […]
Solar Array Will Make Bogota Airport the Greenest in Latin America
(Efe, 21.Sep.2018) — El Dorado International Airport will become the greenest terminal in Latin America when an array of 10,369 solar panels enters operation next year, Colombian officials said Friday. The installation of the panels began on Friday during an event headed by Energy Minister Maria Fernanda Suarez and executives […]