Offshore projects are progressing as planned and the sector has made announcements about these. Ecopetrol (NYSE: EC) made a decision on the drilling of the Molusco-1 well.
In recent years, Ecopetrol (NYSE: EC) has followed an austerity strategy to deal with the oil price crisis. The company committed to reactivate investment this year with heavy spending, but the firm is reducing its budget compared to initial plans.
A reader asked me why we had said that the research on unconventional had already been done. I told him it was because there was a time in 2013 and 2014 when it appeared as if fracking was just around the corner.
The union issued two statements where it showed its support for employees of Fepco Zona Franca, HV Services and Sinproseg.
Biodiesel producers and representatives of the sector have spoken about recent actions of the government, which would allow the free importation of this fuel, affecting the local industry.
New Canadian / Colombian / Argentine oil and gas company Pentanova (TSXV:PNO) is getting attention these days. For one thing, any new company coming to Colombia will get interest. For another, the players involved are veterans of the Colombian industry.
Ecopetrol (NYSE: EC) has to deal with several problems to operate in the country such as attacks against infrastructure, oil theft, social unrest and popular referendums, among other. However, Felipe Bayón, CEO of ECP, is optimistic about the performance for this year, especially in terms of production.
Eight popular consultations to decide the future of mining projects in Colombia had been developed this year, where the ‘No’ has consistently won. The most recent, in Sucre (Santander), will be the ninth.
Colombia’s Attorney General is investigating several officials of Hupecol Operating Co. for possible environmental damage.
The Northeastern Regional Border Autonomous Corporation (Corponor) described the three attacks on the Coveñas Caño Limón pipeline as “truly alarming,” and reported damage to the municipalities of Teorama, El Tarra and Tibú (Norte de Sandander). The development of these and more stories in our periodic Eco summary.
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