Colombia To Seek Oil Off San Andres Island With Jamaican Company

sloopskipper says on Apr 26, 2008, 05:27:

Man, that's sure to stir up some shit with little Danny Ortega, and el mono will certainly follow.

miamimike says on Apr 26, 2008, 07:57:

With Russia doing some Bidding, China is sure to follow also,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

Sam Salmon says on Apr 26, 2008, 10:54:

It's a smart move politically to involve the Jamaicans-they need all the help they can get and it marginalises 'El Payaso'.

' a la orden!'

miamimike says on Apr 26, 2008, 10:59:

I'm surprised Col is in there with Jamaica, you know Jamaica and Cuba(fidel) are on very good terms,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

Papi de Alejo says on Apr 26, 2008, 12:39:

Jamaica has a new government led by the Jamaica Labour Party. They are more inclined to the US and towards Britain than the former government of the Peoples National Party. After decades of PNP rule, the JLP has their work cut out for them if they are trying to realign their country.

PdA

docwilliam says on Apr 26, 2008, 13:54:

I wish Colombia would build their own refinery so they can become free of international pricing pressure. (Gasoline)

"There's no time to panic"

Boatygringo says on Apr 26, 2008, 18:01:

Now we know why Nicaragua is trying to claim San Andress as it,s own territory.

Boatygringo

Sam Salmon says on Apr 26, 2008, 18:45:

"Jamaica has a new government led by the Jamaica Labour Party"

Thanks for that Papi-I had forgotten the recent election.

' a la orden!'

Ctg Bound says on Apr 27, 2008, 10:06:

docwilliam,

Colombia has its own refineries, they also export from them.

At the moment they are expanding the Ctg one, most of the expansion is meant for export.

docwilliam says on Apr 27, 2008, 20:41:

I did not know that.

Does anyone know why the external market has such an influence on the price of gas in Colombia? (I mean, i do like the fact that the price does not change for a month at a time, but it is still effected).

"There's no time to panic"

BillBigD says on Apr 27, 2008, 20:54:

I wish it was like that in the states. LOL I Paided $3.47 for prem. on the 16th. Saw today it was $3.77. Can you say $4.00

docwilliam says on Apr 27, 2008, 21:08:

Billbigd, i feel for you brother. Even though my Jeep Grand Cherokee gets 14mpg on the hwy, it has been parked for nearly 3 months. Now I get unlimited fuel economy, because I walk!

"There's no time to panic"

Robert Jorge says on Apr 28, 2008, 23:58:

Doc - good question. I know gas is a world commodity, but if the country that produces said oil and refines said oil ... shouldn't it also be able to offer cheaper petrol to it's citizens? I do not even possess a basic economic knowledge. but perhaps Colombia, though producing gasoline domestically, is under the control of the world market ???

My Mustang stays parked 50% of the time now when I go to work. I ride my motorcycle if the weather is good. A month ago, I also took a job that is less than a mile away rather than doing a 50 mile round trip commute. When gas hits $4.00 a gallon, I oil up my mountain bike.

--"I believe in making the world safe for our children. But not for our children's children, because I don't think that children should be having sex." - Jack Handy

Ctg Bound says on Apr 29, 2008, 03:25:

Robert Jorge,

Why should Colombia subsidise the gas or gasoline?

Somebody would have to pay for the subsidy.

Its best to stick to world market prices, if you don't in whatever product, business is less likely to invest in it, plus you start cross border smuggling possibilties, more corruption options etc.

sloopskipper says on Apr 29, 2008, 05:19:

Ctg Bound says on Tuesday April 29th, 2008 3:25:


"Its best to stick to world market prices, if you don't in whatever product, business is less likely to invest in it, plus you start cross border smuggling possibilties, more corruption options etc.", as happens from Venezuela to Colombia.

slguy says on Apr 29, 2008, 07:00:

"Why should Colombia subsidise the gas or gasoline?"

i'm not certain RJ had a "subsidy" in mind. is one thing to have the govrnmnt pay a subsidy...yet another, maybe, to selling internal production commodities on a "cost " basis, vs market pricing. who owns those refineries? i assume they're privately owned, making the idea moot, anyway....

Before you throw me out, make sure I pay my bar tab

Ctg Bound says on Apr 29, 2008, 07:27:

slguy,

Why would a company sell a litre of gasoline less than it could sell elsewhere, taking into consideration transport costs etc?

A company isn't going to do it, they aren't a charity, so the only organisation is the government, as far as I can see.

slguy says on Apr 29, 2008, 07:40:

my point exactly, ctg.

i just don't know who owns what.

Before you throw me out, make sure I pay my bar tab

Ctg Bound says on Apr 29, 2008, 08:10:

slguy,

Companies own the refineries, not sure who owns what either, EcoPetrol I expect owns most, the Colombian government still owns most of EcoPetrol.

The CTG refinery was part or fully sold to an international company last year, a Swiss one I think.

Governments should stay out of fixing the pricing as far as I am concerned, they tend to cause to many problems, if regulators see cartels, they should prosecute away.

Ctg Bound says on Apr 29, 2008, 08:17:

slguy,

Glencore:

http://www.glencore.com/pages/company_overview.htm

owns 51% of Ctg refinery:

http://www.glencore.com/pages/a_cartagena.htm

I think a Spanish company Repsol own the remainder:

http://uk.reuters.com/article/oilRpt/idUKMDT00473220080108

Tinto (Moderator) says on Apr 29, 2008, 08:21:

http://www.glencore.com/pages/worldwide_operations.htm

They have 51% of the Cartagena refinery and 100% of two coal mines. BTW, Glencore is the company affiliated with Marc Rich, the tax fugitive (dating back to the 1980s) that Bill Clinton pardoned on his last day in office.

http://en.wikipedia.org/wiki/Marc_Rich

Ctg Bound says on Apr 29, 2008, 08:23:

Tinto,

Does Repsol own the remainder?

I couldn't see anything stating they did, but they are investing 3.4 billion Euros according to artciles I quickliy looked at, so I can see them doing that for no reason.

pedro says on Apr 29, 2008, 08:29:

Ctg, I think that Repsol article is talking about Cartagena, Spain.

The Glencore joint venture in CTG, Colombia is Glencore 51%, Ecopetrol 49% I think.

que nota!

Tinto (Moderator) says on Apr 29, 2008, 08:29:

I don't think Repsol owns all of the balance (the 49%). Judging from a quick glance at the EcoPetrol page, it's shared with EcoPetrol and perhaps others.

Robert Jorge says on Apr 29, 2008, 09:01:

Slyguy is correct - the idea of subsidy didn't even occur to me. Like I said, am not astute in the least when it comes to international commodities. I don't know what the "at the pump price" is now in Colombia, but when I lived in Colombia, it was equal or even more than the pump price in the US. And that was with an exchange rate of $1 dollar to 2.800 cop. The taxes the Colombian government must charge for a gallon of 87 octane must be huge.

--"I believe in making the world safe for our children. But not for our children's children, because I don't think that children should be having sex." - Jack Handy

Ctg Bound says on Apr 29, 2008, 10:16:

pedro,

Makes sense, I only quickly skimmed the article, the numbers didn't add up to me, as the investment in the Ctg refinery is just $100 of millions, not billions.