While the August 2020 global rig count remains significantly lower than for the same period last year, because of oil’s protracted price slump, Colombia’s economically crucial petroleum industry appears to be recovering. Baker Hughes reported on Friday that there were seven active rigs in the strife-torn Latin American country, all of the oil rigs with no active natural gas rigs. This is the third straight month where the volume of operational rigs has increased, although it is still less than a third of what it was for the same month in 2019. That can be attributed to President Duque’s reactivation of Colombia’s economy after a more than five-month lockdown, one of the world’s longest, to contain the coronavirus. It was back in late-May 2020 that energy companies operating in Colombia began to recommence non-essential operations as the compulsory lockdown was eased to allow. crucial economic sectors to reopen. This […]