IAHL Corporation (CE) (IAHL) Quote

We have been working to make regulatory terms more flexible and guarantee enabling conditions to commercialize off-shore gas this year so that we can advance in the supply plan required in 2026 and 2027,” Camacho said at an event organized by Naturgas in Cartagena.

Colombia will look to loosen regulation on gas exploration and supply to meet its needs in 2026 and 2027, Mines and Energy Minister Andres Camacho said on Wednesday.

The South American nation needs to resolve a gas deficit amid rising demand, with measures to include buying more liquefied gas and possibly importing from neighboring Venezuela.

In other words, even if conflict is avoided between Israel and Iran in the near future, the world is becoming a more unstable place where energy shocks look ever more likely – and may be the least of our worries

About 30pc of global oil consumption passes through this strait, with a large portion of the oil exports from Saudi Arabia, Iraq, Iran, the UAE, Kuwait, and Qatar’s LNG passing through it as well. This makes the strait an important choke point in the global oil and gas market,” he said.

“While it is difficult to predict by how much and for how long energy prices would rise, we assume that oil and natural gas prices surge by 40pc in 2024.”

Strait of Hormuz
The Iranian regime may not want to cut its own production, but Tehran has a second potential lever over the oil markets: control over the Strait of Hormuz.

This narrow channel between Iran and Oman carries around 15 million barrels of oil a day, making it critical to the global economy. Iran has already seized an Israeli-linked ship in the sea route.

Garbis Iradian, chief economist at the Institute of International Finance, warned in a recent report that “militarising oil by disrupting shipments through the Strait of Hormuz” would hammer global growth.

Analysts believe the risk instead lies with any further escalation, particularly ongoing direct conflict between Israel and Iran.

Citi’s Layton says this could lead to oil prices trading up to $100 per barrel or even higher.

He adds; “An example of this could be if Israel moved to directly reduce Iran’s domestic uranium enrichment program.”

Nerves are understandable: the pandemic disrupted shipping globally, sending goods prices spiralling, while Russia’s invasion of Ukraine hammered oil and gas supplies, resulting in an energy price shock for much of the world.

The possibility of war across some of the most oil-rich lands in the world raised fears of a renewed cost-of-living crisis, with a former US energy adviser warning of an “escalatory dynamic” in global energy markets.

This company now bankrupt and out of business it seems . What a crappy bunch of shysters they were. Honest communication wasn't exactly their strong suit. Good riddance.

Oil Falls But J.P. Morgan Says Price Heading for $100 a Barrel Amid Russia Turmoil

Rod Lewis, founder of Lewis Energy Group and self-made billionaire, sees major potential in Colombia’s natural gas market and in Latin America, in general.

Oil steadies on US crude inventories data

By 2025, Colombia's natural gas supply will fall short of demand by 17% according to state-owned oil producer Ecopetrol SA. What’s more, Colombia's proven oil and natural gas reserves can last only around seven more years at the current extraction rate.

While recent gas discoveries offer some hope, Colombia is still grappling with the challenge of declining reserves and struggling production. In response, Colombia's state-run oil company, Ecopetrol, plans to invest up to $6.7 billion in 2024 to boost exploration and production activities, as well as developing new technologies to improve efficiency and sustainability in the sector.

This shortage is compounded by the challenges caused by El Niño and declining oil and natural gas reserves, as Colombia strives to maintain its position in the global energy market. El Niño has reduced hydropower generation in Colombia, increasing reliance on natural gas for electricity and boosting demand amid a tight supply.

Despite its significant potential, Colombia’s energy sector is heading towards a major natural gas shortage by next year.

The oil and gas market is the key to Colombia’s national revenue, accounting for roughly 10% of GDP and 20% of exports. However, decreasing onshore production, delayed start-up of new offshore discoveries and President Gustavo Petro's focus on renewable energy are creating ongoing challenges in the sector.

My friend works in Colombian gas sector . He has never heard of Altenesol . He says it's a classical scam operation . Nobody denying it ,just trying to bury the negative posts .

There is no altenesol at this point . They all moved on to the next con .

Altenesol was always a penny stock scam

Ecopetrol is looking for alternative natural gas sources to import. According to the report, by 2025, Colombia will have a 17% deficit versus demand. Purportedly, this is until Ecopetrol builds the supplies from its own offshore fields. And, unfortunately, that comes with few guarantees — and a lot of “possibles” — whenever the company is asked.

The other issue is price. It would make far more sense, setting aside the geopolitical risk, to import very cheap gas from Venezuela, which is also desperate for the revenues. That option, however, at least for 2024, is under threat due to the urgent need for pipeline repairs.

At Colombia's Tayrona block, Petrobras and Colombia's state-run Ecopetrol (ECO.CN), opens new tab will drill two wells this year following a gas discovery at the Uchuva-1 well in 2022. Future analysis will determine the type of project needed, said Joelson Mendes, Petrobras' chief exploration and production officer.
"There could be more gas than what Colombia needs," Mendes told Reuters in on the sidelines of the CERAWeek energy conference in Houston. Colombia's government has asked Petrobras to speed up the project, he added.

Geopolitical tensions boost oil prices on mixed day for global equities

Gas Prices Topping $5 Once Again, Will Rise Higher In Coming Weeks

Gas (NG=F) prices are rising higher than they were during the same period last year. Yahoo Finance's Ines Ferré joins the Live Show to discuss possible drivers of the recent price increases.

Ferré notes that the price hikes are partially seasonal, with demand growing as more drivers hit the road. However, with the price per gallon almost $0.10 higher than a year ago, gasoline's price acceleration may also be sourced to oil (CL=F, BZ=F) rates increasing. This comes against a backdrop of OPEC cuts and Russian refinery interruptions.

Crude is also getting a push from technical indicators, with its 50-day moving average exceeding the 100-day moving average, a chart pattern known as a “golden cross.”

Crude is headed for a third monthly gain as OPEC+ presses on with its curbs and the US tightens sanctions on Russian flows. While China’s shaky demand outlook has been a headwind, Premier Li Qiang said Beijing was stepping up policy support to spur growth. Reflecting the bullish mood, money managers’ net-long positions on Brent have risen to the highest in more than a year.

Goldman Sachs Group Inc. said in a research note that commodities will advance this year as central banks reduce interest rates, helping to support industrial and consumer demand. That cautiously bullish outlook squares with recent comments from other market watchers, including Macquarie Group Ltd. and Carlyle Group LP.

Rising geopolitical premiums as the Israel-Gaza conflict continues were also supportive of prices. Iran-backed Houthi militants on Tuesday said they had mounted six attacks on ships in the Gulf of Aden and the Red Sea over the past 72 hours.

Brent rose 1.5% on Monday while WTI gained 1.6% after Russia's government ordered companies to cut output in the second quarter to meet a 9 million barrels per day (bpd) target to comply with pledges to the OPEC+ consumer group.

Russia, among the top three global oil producers and one of the largest exporters of oil products, is also contending with a spate of recent attacks on its oil refineries by Ukraine and has mounted its own attacks on Ukrainian energy infrastructure.

This POS crooked penny still scamworthy ?? Are the criminals running this enterprise in jail yet ? Gonna fix all of Colombia's problems with natural gas ? Hydrogen ? Or maybe nuclear fusion this week??All out of a closet sized office in a forgettable strip mall in rural Florida ?? Laughable

Last year, Colombia's tender to add a second LNG import terminal received only one bid, and the lack of investor interest is further complicating the country's efforts to ensure enough gas supply amid uncertain rain patterns with the El Nino weather phenomenon, Natural Gas Intelligence noted.

Colombia will need investments of at least $2 billion in natural gas infrastructure over the next decade to meet its rising gas demand, according to a recent government report.

In November, Ecopetrol announced that it would allocate more than 40% of its 2024 investment budget to clean energy as it accelerates decarbonization plans.

By 2030, the company expects its traditional oil and gas business to account for less 60% of Ebitda, with the remainder to come from low or zero-carbon initiatives.

At the forefront of the new business model is a focus on clean hydrogen, non-conventional renewable energy generation and natural gas.

Colombia, being a country that also has hydrocarbons, has natural gas reserves, which we can use for blue hydrogen production. We see that as something positive.

28 projects, the first thing to highlight is that there are 16 in the Caribbean region. The Caribbean region of Colombia is the one with the largest renewable energy resources – solar and wind – and what we're seeing is that green hydrogen generation projects are being located mostly in that region.

So, let's say that Colombia is developing. The most important message we see in this project database is that we're no longer just in the roadmap stage. We're starting to propose projects on an industrial scale and develop projects in the country.

the world's oil demand is rising, and could peak around 1.2 million barrels a day in 2028, the IEA estimated. That could mean the oil market will see a shortage as soon as 2025, Occidental's CEO Vicki Hollub recently warned.

conflict in the Middle East is also posing a major risk to the world's oil supply. If the Israel-Hamas spreads to Lebanon, that would be a "red line" for Iran, Croft said, one of the largest oil producers in the world.

"So I do think we can't write off Middle East supply disruption risk yet," she added.

OPEC+ is also looking to continue its aggressive production cuts. Members of the oil cartel said they would extend the group's 2.2 million barrel-a-day production cut through June. Saudi Arabia, the oil cartel's de facto leader, will continue its voluntary production cut of a million barrels a day, while Russia will cut production an extra 471,000 barrels a day.

The world's oil supply is about to get way tighter and send crude prices climbing, according to commodities expert Helima Croft.

The global head of commodity strategy at RBC Capital Markets pointed to signs that supply-demand imbalance in oil markets could soon tip in the other direction, as the world's crude production is poised to slow. That could cause Brent crude, the international benchmark, to hit $85 in the second half of 2024, Croft predicted.

Oil supply is looking tighter and prices could climb as US production outlook gets cut in half this year, RBC commodities chief says

This company still dead I see . As it should be . A bunch of crooks at the helm of this criminal enterprise . So much for hydrogen .. etc etc etc . All lies

Investments in the oil exploration and production (equivalent to ~50% of the annual plan) and gas exploration and production (equivalent to ~12% of the annual plan) will be allocated to reach organic production levels of 725,000 to 730,000 barrels of oil equivalent per day by 2024 (76% crude, 19% gas, and 5% white products) implementing improved recovery technologies to maximize existing resources and protect the production curve against natural field decline,” stated Ecopetrol in a statement.

Despite the curbs on oil extraction in the nation that President Gustavo Petro has overseen since taking office, Ecopetrol plans to drill around one development well per day in the coming year, with nearly three-fourths of the planned 360 wells expected to be with in Colombia (and the remaining quarter located in the Permian Basin). In terms of exploration, just 15 wells are planned for 2024, primarily in Northern Colombia and the Caribbean offshore.

You are a joke. Fake company

Oil Markets Seriously Underpricing Geopolitical Risks

Other than oil demand remaining robust, StanChart contends that oil markets are seriously underpricing geopolitical risks and oil prices are currently discounted by at least $10/ barrel to their fair values.

Global Oil Demand Remains Robust Despite Bearish Sentiment
Editor OilPrice.com
Tue, January 30, 2024 at 10:00 AM EST·4 min read

Last week, crude oil futures settled at their highest levels in more than two months while energy stocks scored their best week since March 2023 thanks to a cornucopia of catalysts including escalating tensions in the Middle East, a Ukraine drone attack on a Russian oil refinery, production glitches in the U.S., inventory drawdowns that were much larger than forecast, stronger than expected Q4 GDP growth in the U.S amid declining inflation and increased prospect of more economic stimulus from China.

Oil Jumps to November Highs After Another Merchant Ship Attack

Futures are on track to climb more than 7% in January, with the increase in geopolitical tension countering demand concerns. After a drone assault that killed American troops in Jordan over the weekend, President Joe Biden said he has made a decision on how to respond, without elaborating. The US added that Iran was responsible for providing the weaponry used in the strike but Tehran has denied involvement in the deadly attack and vowed to retaliate against any US strike on its soil or assets abroad.

Oil headed for its first monthly gain since September as an escalation of attacks on ships in the Red Sea spurred a diversion of tanker traffic and raised fears about a wider conflict in the Middle East.

Oil Set for First Monthly Gain Since September on Red Sea Unrest

If I may , this company and its pack of liars has not made any public comment in 2 years . Despite the cheerleaders’ distractions , there is no company at this juncture . The lights came on in this sham company and the roaches ( their company officers )ran and hid when their scam unraveled. If they started talking, they would have to explain their behavior/ lies/ misrepresentations/ untruths / criminal behavior . That is the only explanation . Securities fraud would invite the kind of unwanted scrutiny these losers do not want .

I don't believe this bodes well for us.

"Apart from ruling out the possibility of signing new exploration contracts, the government said its energy investment strategy was now focused on renewable sources, with a particular focus on offshore wind and hydrogen."

This is an intense debate in Colombia. It does not mean that we will be left without oil or coal, since there is already coal, oil and gas in exploitation, and there are already many previously signed exploration contracts that remain in force."
Oil and gas industry groups have repeatedly warned Petro that his decision threatens Colombia's energy security while limiting its most important source of export revenue.
Guillermo Acosta, the CEO of oil engineers' association Acipet, told BNamericas earlier this year that he was confident the government would change its mind based on "technical data and expert information".
Apart from ruling out the possibility of signing new exploration contracts, the government said its energy investment strategy was now focused on renewable sources, with a particular focus on offshore wind and hydrogen.

Colombia has not yet halted oil and gas production and has several projects currently in the works. Last November, Colombia's state-run oil company Ecopetrol and Brazilian partner Petrobras started drilling their Orca Norte 1 offshore appraisal well in the Tayrona block. The two firms hope to transport gas to the mainland via a new pipeline that would also run to the Chuchupa gas field. Ecopetrol is also working with Shell to develop their Gorgon discovery in the ultra-deepwater COL-5 block.

Onshore, Geopark and Hocol are developing Llanos 123, which is one of five exploration blocks the pair were awarded in a 2019 licensing round. Following two successful discoveries, the duo are hopeful for more over the next year. Meanwhile, the independent Canadian gas producer Canacol plans to drill the Pola-1 exploration well on the VMM-45 block in the first half of 2024, following three recent discoveries

Therefore, gas is a very relevant energy source, with very positive qualities, with very good coverage of vehicle natural gas stations in Colombia, with local gas, unfortunately it had to compete for many years against highly subsidized gasoline. . It was declining. Now, if we go back to the beginning of 2023, Vehicle natural gas is increasing. Because Because gasoline is rising, natural gas is competing against gasoline in an open competition, and we are seeing many sectors migrating away. Conversion to natural gas vehicles is finally increasing, they were depressed, and consumption is increasing.