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The municipality announced that it will go to the courts if Ecopetrol (NYSE: EC) does not respond for the alleged debt.

Recently, the State Council issued a confusing ruling on the deductibility of royalty payments, especially those paid with respect to concession contracts for the extractive sector.

Downstream Demand and PricingFuel retailers are facing several problems at present, which is affecting their income. Joaquín Franco, Executive Director of Fendipetroleo, spoke about this situation.

The oil sector in Colombia faces a lot of uncertainty because of social unrest. Those against the industry argue that it does not contribute to rural development, but a study by the Colombian Petroleum Association (ACP) shows the opposite.

After two years of investigations and complaints from different supplier companies, the Superintendence of Industry and Commerce (SIC) formulated charges against Postobon, Cerrejón, Procter & Gamble (P&G) and Equión Energy, for allegedly restricting the free circulation of invoices.

The union spoke about the strike that workers are currently developing at Occidental de Colombia’s (OXY) wells in Arauca, and called for the company to respect the Collective Labor Convention (CCT).

ProductionParex (TSX: PXT) announced its financial and operating results for the third quarter of 2017. The firm reported successfully drilled wells once again, oil production growth and positive net income.

The Canadian Colombian Chamber of Commerce (CCCC) hosted the ‘Regulatory Perspectives for the Energy Mining Sector’ forum. HCC attended the event.

National Hydrocarbons Agency (ANH) Technical Vice President, Jairo Osorio, said that fracking has not been authorized or developed in Colombia and added that an initial exploration phase to determine whether there are unconventional reserves in the country has just begun.

The Colombian oil sector has faced some tough years, leading to few exploration projects and a reduction in production and reserves. However, the industry is showing a recovery in key metrics and this behavior is increasing expectations and perspectives.