The oil sector has invested large amounts to improve its operations and be more efficient. The oil transport has not been left behind and the industry is betting on the technological improvements to achieve economic benefits.
Once again, the NOC showed the benefits of the industry in the country, this time by granting scholarships to Colombia’s best students. These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
Parex (TSX: PXT) announced its financial and operating results for the third quarter of 2018. The firm reported oil production growth and good financial performance. Parex declined to update its potential strategic repositioning.
The Colombian government is analyzing several options to generate extra cash in 2019. Alberto Carrasquilla, Minister of Finance (MinHacienda), is preparing a decree to leverage the good financial moment of the oil sector and increase Colombian fiscal resources.
The National Agency of Environmental Licenses (ANLA) said that investors from Chile, Turkey and India, among other countries, are interested in learning about Colombia’s licensing system.
During a first debate, the House of Representatives’ First Commission approved the project to modify the General System of Royalties (SGR). These and other stories in our periodic Royalties summary.
Ecopetrol (NYSE: EC) has managed to report good financial results during this year, taking advantage of current oil prices. This situation has left the company in a favorable position to increase investments. Felipe Bayón, CEO of ECP, spoke about the company’s investment plans.
Bogota announced the renewal of the bus fleet for Transmilenio, but this decision was not well-received in some sectors.
Francisco Lloreda, President of the Colombian Petroleum Association (ACP), wrote an Op-Ed about fracking.
A terrorist attack on Coveñas Caño Limón (CCL) in the Blanquita village, municipality of Cubará (Boyacá), led to an environmental emergency. The development of these and more stories in our periodic Eco summary.
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