Colombia´s Central Bank has not published Foreign Direct Investment (FDI) figures for 1Q17, but we show petroleum FDI and RRR during 2016. Social environment has increase legal uncertainty in the industry and it could affect the performance of these metrics this year.
As of August, the NOC’s tanker trucks will not be able to enter directly into the city and Ecopetrol (NYSE: EC) will have to search for an alternative route.
The Comptroller General proposed changing the gasoline price policy in the country. It generated an interesting discussion.
GasThe Colombian Mercantile Exchange (BMC) confirmed the news.
Ecopetrol (NYSE: EC) announced progress at the Bioenergy plant, the largest ethanol production complex in the country. The company said the ethanol-marketing phase began.
Even though the Collegiate Bodies of Administration and Decision (OCAD) approved important social development projects in the departments of Neiva and Casanare, corruption scandals led to the National Department of Planning (DNP) to closely monitor, and even suspend projects in Casanare and La Guajira. These and other stories in our periodic Royalties summary.
As popular anti-oil referendums arise all over Colombia, the government and oil associationswent out to explain what the‘post- popular referendums legal uncertainty’ represents for Colombia.
A court in La Guajira issued a ruling against Promigas making it pay compensation for a guerrilla attack on its facilities. Some representatives of the sector talked about this issue and there is much concern about legal situation in the country.
The oil industry is facing difficult times, but this sector has an important role in the Colombian economy and in the State’s income. Ecopetrol (NYSE: EC), the main player in this industry, is vital to Colombian finances.
Ecopetrol (NYSE:EC) announced that 98% of its skilled and unskilled labor in Huila are locals, and that social investment programs in 53 municipalities of Colombia are developing in a successful way.These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
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