•El Espectador reveals that oil importation to Colombia is to be postponed until 2021 due to focus on heavy crude oil. •According to the goals of President Santos, minister of Mines and Energy Carlos Rodado Noriega hopes that by December 2014, production will be 1,350,000 barrels a day. •Currently, 60% of Colombia’s production is made […]
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On Sunday in Arauquita, Arauca, Colombia, FARC released 5 workers from the OXY oil company who were kidnapped on Friday near the Venezuelan border according to larepublica.pe. There have been recent kidnappings of oil workers such as the kidnapping of the 4 Chinese workers who still have not been located. Read Article
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Production has recommenced in the Pacific Rubiales Fields in Colombia after negotiation talks between representatives of the Canadian company, from the contracting companies as well as delegates from the Workers’ Syndicate Union. It is estimated that the demonstrations halted the production of 177,000 barrels of crude oil. The oil companies are petitioning the prosecution of […]
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•The protests against 4 oil companies have left 6 people injured and several burnt vehicles in the Pacific Rubiales oil field in Meta, Colombia. •Rcnradio.com reports that the protests were incited by the dismissal of 1,100 workers from the JM oil installation company. •Complaints include labor exploitation, dangerous work conditions, and shifts of 30-40 days. […]
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ElUniverso.com reports that PetroEcuador, the state owned oil company in Ecuador, has bought 636,041 barrels of crude oil from Perenco. The purchase is valued at $68.01 million. Officials say the purchase served as a way to cancel the debt Perenco had with the Ecuadorian government for not paying the surplus on the increase in oil […]
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British oil company Rockhopper announced this week that it has begun evaluating methods to extract oil from a well in the waters surrounding the Falklands Islands which they have been drilling in since last year without permission from the Argentine Government, according to diariouno.com.ar. This is the first time any oil company has officially decided […]
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ElComercio.com reports on July 6th, that Petroecuador has postponed the negotiations of “mature” oil fields in order to enhance the natural recovery time in the area. This report was broken by Andes news organization, last night. The story says the areas of recovery include the oil fields of Auca, Shushufindi, Cuyabeno, and Libertador that are […]
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According to Hoy.com.ec the state owned Petroecuador has signed an agreement with China to sell 130 million barrels of petroleum to Chinese state oil company, Petrochina, within a period of six years. Marco Calvopiña, the president of Ecuadorian Petroleum says that he hopes Ecuador can deliver 60,000 barrels per day to complete the contract in […]
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President of Venezuela Hugo Chavez’s struggle with cancer has severely shaken Cuban society, according to terra.com. A long-lasting friendship between Chavez and Fidel Castro, now carried on with Raul Castro, has been the glue to a strong economic relationship between the 2 nations that has greatly boosted the economy and overall standard of living in […]
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According to Hoy.com.ec six blocks of oil fields in Armadillo, Chanangue, Charapa, Eno-Ron, Ocano and Singue, located in the Amazon region, are open for bidding contacts, states the Ministry of Non-Renewable Resources. The bidding process is open until August says the Ministry. Interested companies will have to pay a registration cost, $10,000 and will be […]
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•This morning, Brigade 18 of the Colombian Army freed the Head of Security, Carlos Rodríguez, and a driver of the oil company Oxy after they had been kidnapped Monday around 1:00 p.m. by the ELN per El Tiempo. •Rodríguez is the Head of Security of the Gibraltar natural gas plant. •The army arrested Juan Carlos […]
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•As reported by elespectador.com, the British oil company Emerald Energy released a statement recognizing that the four workers of Chinese descent were kidnapped in San Vicente del Caguan yesterday and that the company is putting forth an emergency plan in response to the situation. •It appears that FARC is responsible for the kidnappings. •The statement […]
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•The Colombian oil company, Ecopetrol, due either to the poor condition of piping and equipment or other operational difficulties, has spilled 15,000 barrels of crude oil thus endangering the environment per portafolio.co. •The Comptroller of Colombia points out Ecopetrol’s lack of attention to the environment in the areas in which it operates. •The company recognizes […]
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•In Colombian society, Venezuelans have made a name for themselves in the fields of art, music, and even television, and this influx of immigrants has its roots in the dismissal of workers in the petroleum industry in Venezuela. •Semana.com calls the reason for the first wave of immigrants the P factor. Hugo Chávez dismissed 18,000 […]
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Argentina and Brazil are making big sales as Egypt begins to buy large quantities of soybean oil from the South American countries in place of the more expensive sunflower oil. Oil analyzers Oil World says Egypt could import 290 thousand tons of soybean oil from January to May of 2011, compared to 157 thousand tons […]
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•According to elespectador.com, Venezuela is carrying out its promise to keep sending fuel to Colombia despite the increased length of the transport (up to 122 extra kilometers) due to the heavy rains. •On April 2, Venezuela sent 15.2 million liters of fuel to Cúcuta, in the department Norte de Santander, Colombia. •Rafael Ramírez, minister of […]
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•As part of a campaign to search Caño Sur in los Llanos Orientales, the state oil company, Ecopetrol, discovered exploratory well A-3 according to elespectador.com. •Two other such wells have been discovered in 2010. •The production test predicted that the wells will produce 225 barrels a day and a water and sediment cut off of […]
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