|
Post by scumbuster on Nov 20, 2023 14:45:28 GMT -5
Colombia Weighs Importing Natural Gas and Crude From Venezuela The Andean nation is also considering participating in oil exploration in Venezuela, Colombian Energy Minister Andrés Camacho said. “We’re exploring the possibility for Ecopetrol to directly explore for gas and hydrocarbons in Venezuela,” Camacho said Monday, in an interview on Blu Radio. His comments follow President Gustavo Petro’s visit with Nicolás Maduro in Caracas on Saturday, where Petro said it was “very likely” that Colombia’s state oil company Ecopetrol SA would become a partner of Petroleos de Venezuela SA in production for oil and natural gas. Colombia’s interest would mark a shift in Petro’s policy to wean his nation off fossil fuels. In Colombia, his government has declined to award any new oil exploration licenses, and has also opposed new oil-exploration contracts overseas. The US lifted some sanctions on oil and gas operations in Venezuela last month after the Maduro government and the opposition agreed to work on a deal for better electoral conditions. As recently as August, Camacho had said the country was not considering importing gas from Venezuela. The two countries are connected by a 139-mile pipeline that connects Venezuelan gas fields with northeast Colombia, though it would need significant maintenance to function. Colombia’s natural gas reserves dropped to the equivalent of 7.2 years of output at the end of last year, the lowest since at least 2007, according to the National Hydrocarbons Agency. The Andean nation had 2.04 billion barrels of proven crude reserves, the equivalent of 7.5 years of output. us.yahoo.com/finance/news/colombia-weighs-importing-natural-gas-144006878.html
|
|
|
Post by elexpatriado on Nov 20, 2023 19:15:14 GMT -5
Colombia Weighs Importing Natural Gas and Crude From Venezuela The Andean nation is also considering participating in oil exploration in Venezuela, Colombian Energy Minister Andrés Camacho said. “We’re exploring the possibility for Ecopetrol to directly explore for gas and hydrocarbons in Venezuela,” Camacho said Monday, in an interview on Blu Radio. His comments follow President Gustavo Petro’s visit with Nicolás Maduro in Caracas on Saturday, where Petro said it was “very likely” that Colombia’s state oil company Ecopetrol SA would become a partner of Petroleos de Venezuela SA in production for oil and natural gas. Colombia’s interest would mark a shift in Petro’s policy to wean his nation off fossil fuels. In Colombia, his government has declined to award any new oil exploration licenses, and has also opposed new oil-exploration contracts overseas. The US lifted some sanctions on oil and gas operations in Venezuela last month after the Maduro government and the opposition agreed to work on a deal for better electoral conditions. As recently as August, Camacho had said the country was not considering importing gas from Venezuela. The two countries are connected by a 139-mile pipeline that connects Venezuelan gas fields with northeast Colombia, though it would need significant maintenance to function. Colombia’s natural gas reserves dropped to the equivalent of 7.2 years of output at the end of last year, the lowest since at least 2007, according to the National Hydrocarbons Agency. The Andean nation had 2.04 billion barrels of proven crude reserves, the equivalent of 7.5 years of output. us.yahoo.com/finance/news/colombia-weighs-importing-natural-gas-144006878.htmlNow , what could possibly go wrong??
|
|
|
Post by mudd on Nov 21, 2023 16:16:36 GMT -5
you cant get any dumber than that
|
|
|
Post by elexpatriado on Nov 21, 2023 19:58:03 GMT -5
you cant get any dumber than that Well Chevron´s been that dumb since Chavez was first elected. I dont know how many billions PDVSA owes them now. Even the Chinese, Russians and Iranians didnt get much out of the billlions they have sunk there over the years, Other than an exchange of brown envelopes between the project managers.
|
|
|
Post by daluz on Nov 22, 2023 9:55:26 GMT -5
So if Colombia only has about 7 years worth of oil left, and we all realize the electric/green energy unicorn is probably more than 7 years away, it might be good business to develop other people's oil and use it up first.
I hate to think His Majesty might have stumbled onto a decent idea...not great as I suppose the Colombian oil guys won't be working the stuff in Venezuela, most likely be locals?
Or did I read everything completely backwards?
Be well.
|
|
|
Post by wildstubby on Nov 22, 2023 11:27:46 GMT -5
I hate to admit this but elex, having been in the business for awhile , probably has a good hand on this. I would like to know billforce's reaction since he keeps a pretty good pulse on the Colombian petro-production, (no pun intended!).
|
|
|
Post by scumbuster on Nov 22, 2023 15:55:01 GMT -5
So if Colombia only has about 7 years worth of oil left, and we all realize the electric/green energy unicorn is probably more than 7 years away, it might be good business to develop other people's oil and use it up first. I hate to think His Majesty might have stumbled onto a decent idea...not great as I suppose the Colombian oil guys won't be working the stuff in Venezuela, most likely be locals? Or did I read everything completely backwards? Be well. I would be shocked if there was only 7 years of oil left in Colombia. Its just oil they know about and its currently cost affective to drill for. There has only been a couple experimental fracking projects done. Its lack of will by Colombia to go after more oil. They seem to be on the green energy bandwagon which is no ware near ready to replace oil. I remember peek oil in the 70s.. LOL
|
|
|
Post by elexpatriado on Nov 22, 2023 18:25:58 GMT -5
Actually Venezuelan oil production has gone upto about 800,000 barrells per day since they took the sanctions off.
Mostly because of US companies, and service providers,
But if the money goes through PDVSAs hands, dont know whether they are actually getting paid,
Canadian companies had the same issue with Ghadaffi regime in Libya years ago. The Libyans were owing some companies 10s of milions, but they kept doing business with them for years for some reason
|
|
|
Post by mudd on Nov 24, 2023 10:23:19 GMT -5
im sure when petro is gone.. next president will start looking for oil again.
|
|