News and AnalysIs for

The idea of allocating a portion of the royalties budget to finance the post-conflict process has been controversial in the country. Not only has the Inspector General said it will “check the initiative with a magnifying glass”, but President Santos announcement of allocating science and technology resources to build tertiary roads caused a major discord in the country.

Oil spills took place this week in Caño Barbasco, Puerto López, and in Buenaventura and the companies involved implemented contingency plans.  Regional environmental authorities did strict follow-ups on Bioenergy and Morelco’s facilities in the affected areas.

Ecopetrol’s (NYSE:EC) E&P business unit had more EBITDA than its Transport Line of Business (LoB) in 2016 but by far the largest contributor to Net Income was Transport. This continues to generate controversy. We hope this graph is helpful.

Gas supply has been one of the main issues in the country. The government has identified the main investments that the natural gas industry needs to guarantee self-sufficiency in Colombia. .

The new resolution will define the conditions for biogas and biomethane service at a domestic and industrial level in Colombia in terms of quality, safety and tariffs.

It has been a while since the industry has done this well in CSR news. Ocensa, Equión and Ecopetrol (NYSE:EC) reiterated their commitment to the communities of their area of influence, and social investment projects are being successfully developed in Colombian’s rural areas. These and other Corporate Social Responsibility (CSR) in our periodic summary.

Communities of Putumayo say they disagree with the work of Amerisur (LON: AMER) in their region. Some indigenous and farming communities have taken legal action against the company.

Amerisur Resources Plc (LON: AMER) announced asset acquisitions in the Caguan-Putumayo Basin. The blocks were bought from Pacific Energy E&P (TSX: PEN).

Fearing a possible detriment of water sources and vegetation in their territories, a group of farmers from the Banco de Arena and Palmarito settlements, submitted a popular action to stop Turkish Petroleum from developing oil in the rural area of Cúcuta.