Friday, January 2, 2015

Oil and mining updates from Colombia

Colombian state oil company Ecopetrol announced that it has licensed a company based in the Colombian city of Popayan the commercialization and post-sales service of a technology Ecopetrol developed to separate sand and other solids from oil. The technology is called “Sistema Desarenador DinĂ¡mico de Crudos,” and Ecopetrol explained that while solids can be separated from oil naturally, this technology speeds up the process, reduces costs, and eliminates the need for large tanks to store the oil as it separates. According to the press release, Ecopetrol signed six licensing agreements in 2014 for various proprietary technologies.

In more worrying oil industry news, American oil company American Eagle Energy, a specialist in shale oil production, announced that it is suspending all new exploration in Colombia due to the collapse in global oil prices. The company added that it will not resume new explorations until oil prices have recovered. Extracting oil from shale formations is a more expensive, non-conventional procedure, so it is not surprising that this section of the oil industry would be affected first.

In other news, Jorge Ospina, an official with the Colombian Cerro Matodo Company, told Expres that mining is not by definition incompatible with the environment. He argued that Cerro Matodo has demonstrated for thirty years that sustainable and environmentally-harmonious mining operations are possible.


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