Plunge of oil demand limits storage capacity

The drop in oil demand by refiners at local level and the exports limited to a minimum at global level due to the coronavirus pandemic, pushed storage capacity to the limit in the producing provinces

BP announces quarterly loss as oil prices crash

The British giant said it slumped into a u$s4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil. "Our industry has been hit by supply and demand shocks on a scale never seen before," BP's CEO stated

Repsol sells Colombian oil and gas assets

The sale includes Repsol’s 45% stake in onshore Block CPO-9 (Akacias) in the Llanos Norte play, which is operated by Colombia’s state-run Ecopetrol (55%), and Repsol’s nonoperated interest in the promising Cosecha Block

PAE requests to align LNG Project with new investment regime

The oil company Pan American Energy (PAE) has requested that its multi-million-dollar project to export liquefied natural gas (LNG), developed in partnership with the multinational Golar LNG, be included in the recently launched Incentive Regime for Large Investments (RIGI)