The largest independent oil producer and explorer in Colombia is Canadian domiciled Pacific Rubiales (OTCPK:PEGFF). It is also the second largest oil producer by proven reserves and daily production after Colombian government controlled Ecopetrol (NYSE:EC). Like its peers, its share price has failed to perform on the back of investors becoming more risk averse and avoiding investments in what are perceived to be high-risk operating environments. Pacific Rubiales has also been affected by the gyrations of the Colombian peso, which has fallen in value because of a strengthening U.S. dollar and ongoing Colombian government policy aimed at reducing its value.
There has also been growing speculation that Pacific Rubiales will lose the license for
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|