Louisiana Light • 2 days | 71.80 | -1.73 | -2.35% | |||
Bonny Light • 2 days | 73.79 | -2.29 | -3.01% | |||
Opec Basket • 2 days | 75.19 | -1.69 | -2.20% | |||
Mars US • 23 hours | 69.21 | -2.26 | -3.16% | |||
Gasoline • 2 hours | 2.539 | -0.057 | -2.20% |
Bonny Light • 2 days | 73.79 | -2.29 | -3.01% | |||
Girassol • 2 days | 75.37 | -2.68 | -3.43% | |||
Opec Basket • 2 days | 75.19 | -1.69 | -2.20% |
Peace Sour • 15 hours | 63.71 | -3.21 | -4.80% | |||
Light Sour Blend • 15 hours | 65.01 | -3.21 | -4.71% | |||
Syncrude Sweet Premium • 15 hours | 73.96 | -3.21 | -4.16% | |||
Central Alberta • 15 hours | 63.31 | -3.21 | -4.83% |
Eagle Ford • 2 days | 65.94 | -3.21 | -4.64% | |||
Oklahoma Sweet • 2 days | 66.00 | -3.25 | -4.69% | |||
Kansas Common • 2 days | 59.75 | -3.25 | -5.16% | |||
Buena Vista • 9 days | 76.15 | -1.09 | -1.41% |
Gasoline prices have ticked up…
In a bid to increase…
James Burgess
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…
Today in Oslo, Norway, the Colombian government is beginning peace talks with the Revolutionary Armed Forces of Colombia, the nation’s largest rebel guerrilla group, hoping to negotiate an end to the conflict that has gripped the country for 50 years.
Taking advantage of this, and with confident expectations to agree a deal, the government is holding an auction of oil and gas blocks for the first time in two years.
Companies such as Royal Dutch Shell, ExxonMobil, Petroleo Brasileiro, and OGX Petroleo e Gas Participacoes have already qualified to bid on the 115 blocks that are up for grabs. The companies started placing their bids this morning, and the results will be announced throughout the day.
Columbia is looking to raise investment, whilst at the same time hope to find new oil reserves to ensure future oil production. Existing proven reserves stand at just 2.3 billion barrels, which at current production levels is the equivalent of seven years output.
Related Article: Yet Another Huge Oil Find in the Anadarko Basin
As Juan David Pineros, an analyst at Interbolsa, stated, “seven years is a relatively small amount for a country that depends a lot on oil.” He said that today’s auction is “a big step to ensure future reserves.”
The 115 blocks up for auction cover about 13.5 million hectares of central mountainous regions, eastern plains, and offshore areas within the Caribbean.
By. James Burgess of Oilprice.com
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…
U.S. Gasoline Prices Are Set For A Significant Decline
Iran Seizes Third Oil Tanker As U.S. Boosts Military Presence
Turkey Makes Huge 1-Billion-Barrel Oil Discovery
14,000 Inactive Oil & Gas Wells In U.S. Unplugged
Oil Prices Continue To Slip Even As Crude Oil Inventories Decline
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com