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In early trading, the US dollar fell 0.3% against the Japanese yen (USD/JPY), currently trading at 157.16, down about 30 points from Fridays close.U.S. Senate Minority Leader Schumer: The continuing resolution announced today is a responsible choice.On August 3, Iranian Foreign Minister Araqchi spoke by phone with the Iraqi Foreign Minister, discussing the latest developments in the region, ways to strengthen bilateral and regional cooperation, and the most important issues of common concern to both countries.On August 3rd, US President Trump stated on Saturday evening (Eastern Time) that he would suspend a new round of attacks on Iran, awaiting the resumption of negotiations to end the war and restore cargo transport halted in the Strait of Hormuz. This is the latest example in a series of US presidents threatening large-scale attacks only to cancel them later. This sudden shift has become a prominent feature of the five-month-long US-Iran conflict. According to statistics, similar "scripts" have played out eight times so far. 1. April 7th: Trump announced a two-week ceasefire with Iran less than two hours before the "deadline." At that time, he demanded Iran submit, or face attacks on bridges and power plants—which he claimed would mean "the destruction of an entire civilization." 2. April 21st: Trump announced an indefinite extension of the ceasefire agreement with Iran, just one day before the agreement expired, the same day the US launched attacks on Iranian oil tankers. 3. May 18th: After issuing harsh threats to Iran over the weekend, Trump stated he was suspending a large-scale military strike plan because "serious negotiations" were underway. By May 27th, the negotiations had broken down, and the US resumed attacks. 4. June 11: After two days of mutual attacks, Trump escalated his threats further, saying the U.S. would "strike hard tonight" Iran and "take full control" of its oil and gas industry. However, hours later, Trump posted on social media that negotiations had made a breakthrough and canceled the strikes. 5. June 17: Trump and Iran signed a preliminary agreement requiring a permanent cessation of hostilities and the reopening of the Strait of Hormuz, while launching a 60-day countdown to negotiations to reach a final agreement on the future of Irans nuclear program. 6. July 7: Following Iranian attacks on merchant ships in the Strait of Hormuz, Trump launched new strikes against Iran while attending the NATO leaders summit in Ankara, Turkey. He then again threatened to "get the job done," saying he believed the ceasefire was over. 7. July 27: Trump said he had paused two weeks of intensive daily strikes against Iran to give negotiations another chance. During the 13-day strikes, the U.S. military targeted key military and commercial facilities as tensions along shipping routes continued to escalate. 8. August 1: After telling reporters that the United States would strike Iran “severely,” Trump said on social media that he had canceled the planned strike, claiming that Middle Eastern allies had reached a framework agreement to end the war, including reopening the Straits.On August 3, according to US media Semafor, a Senate continuing resolution introduced by Senators Collins and Murray has been passed. The bill would provide government funding until December 11. The bill blocks a new rule that would allow the government to cancel funding to states such as blue states. Collins stated that the bill "prevents the Office of Management and Budget (OMB) from enacting its proposed rule regarding federal financial aid." Murray stated, "This bill blocks the implementation of this corrupt new OMB appropriations rule during the continuing resolutions validity period. This proposed rule would systematically politicize federal funding and allow Trump administration officials to cancel appropriations at any time for any reason."

In Colombia, natural gas consumption has outpaced production

Charlie Brooks

Jun 28, 2022 11:31


According to our most recent Colombia Country Analysis Brief, Colombia imported 14,2 billion cubic feet (Bcf) of natural gas to help meet its natural gas demand for electricity in 2020, when a drop in hydroelectric power was caused by drought.


In 2020, hydroelectricity will contribute to around 65% of Colombia's electrical generation, down from nearly 80% in earlier years. Since hydropower is Colombia's principal energy source, droughts may have a significant effect on the country's electrical producing mix.


The bulk of natural gas used in Colombia is produced domestically and employed to create electricity. In recent years, imports have progressively bridged the gap between domestic natural gas production and domestic demand. In 2020, Colombia produced 399 Bcf of dry natural gas, while domestic consumption was 413 Bcf.


Concerns over the reliability of the nation's electricity supply prompted the Colombian government to approve the Sociedad Portuaria El Cayao (SPEC) LNG import plant in November 2014. The facility started operations in November 2016. The administration has since proposed the Pacific Regasification LNG terminal as the nation's second LNG import plant.


EPM is currently developing the new hydroelectric dam project Ituango. The first of eight 300-megawatt generating units will commence operating in the second part of 2022. The whole project will have a capacity of 2.4 gigawatts when it is finished in 2025. If completed, the Ituango project would be the largest hydroelectric power plant in Colombia in terms of generating capacity. In 2020, the installed electrical production capacity of Colombia was 17 gigawatts.

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