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.
USO Orito and USO Barranquilla representatives said that they are actively working towards improving local hiring conditions in oil producing regions, and met with representatives of oil companies and local authorities to find solutions to the issue.
There are huge concerns about the consequences of recent popular referendums and their fast growth in Colombia. Germán Espinosa, Executive President of Campetrol, wrote an article about this problem in La Republica.
A former Farc member was captured in Costa Rica while transporting cocaine, and the ELN kidnapped two Dutch journalists in Norte de Santander.
According to the results of the Yopal Economic Perception Survey (EPE,) published by the Chamber of Commerce of Casanare (CCC,) 90% of the department’s entrepreneurs reported lower sales compared to 2015.
The Colombian oil sector is experiencing very difficult times at present. The industry is analyzing options to boost growth, and fracking is one of the main alternatives. Julio Cesar Vera, President of ACIPET, talked about this topic.
Recent popular referendums have increased legal uncertainty in Colombia. Leaders of the sector have shown their concern and Orlando Velandia, President of the National Hydrocarbons Agency (ANH) talked about this issue.
Even though a budget was approved to finance projects in Casanare and Arauca, as a result of delays and irregularities in projects being developed in Yopal, the National Department of Planning (DNP) conducted a ‘marathon review’ of SGR projects in the department. These and other stories in our Royalties periodic summary.
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