News and AnalysIs for

Allegedly, there is a transnational oil smuggling network that transports oil from Venezuela to Colombia. Authorities reported the confiscation of more than 3,000 gallons of fuel in Arauca and Norte de Santander. The development of these and other stories in our periodic Security Summary.

Ecopetrol (NYSE: EC) said that blockades and protests are affecting the operations of the country’s main producing field, Rubiales. Members of the Alto Unama, an indigenous community, hold protests in this important field and they are causing big losses.

The National Department of Planning (DNP) wants to boost projects through mining and oil royalties around Colombia. Luis Fernando Mejía, Director of DNP, talked about this strategy.

Ecopetrol (NYSE:EC) helped rebuild reefs in the departments of Sucre, Nariño and Magdalena, but oil spills in Casanare affected the fauna and flora of the department. The development of these and more stories in our periodic Eco Summary.

GasThe Ministry of Mines and Energy (MinMinas) published official production figures for May 2017 and we will focus on gas this time. The statement was minimalist without any attemptto explain production behavior for either crude or gas.

Francisco José Lloreda, president of the Colombian Petroleum Association (ACP) said that exploration should be encouraged, and for this to happen it is essential to overcome legal uncertainty.

Geopark (NYSE:GPRK) is in the excellent position of operating LLA 34, one of the very few good-sized oil blocks that is still growing, still having new discoveries (along with partner Parex (TSX:PXT)).

An environmental emergency took place in the Sirivana village, in the municipality of Nunchia (Casanare,) where apparently old pipelines from the company Perenco Colombia Limited caused an oil spill over a large water stream.

Ecopetrol (NYSE: EC) has big plans for the Gulf of Mexico; the Company participated in Round 2.1 and won two blocks. The company has high expectations for the results of its projects in Mexico.

Colombia wants to leverage the navigability of the Magadalena River but authorities expect large investments will be needed to achieve it. Ecopetrol (NYSE: EC) and Cormagdalena announced an agreement to invest in this important river.