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Gas reserves more critical than crude, says UPME

Gas reserves more critical than crude, says UPME

The Energy Mining Planning Unit (UPME) has updated its interim natural gas plan and warned that even though there are more years of natural gas reserves in the country than those of crude, this fuel has more worrisome consequences if supply becomes scarce. The UPME reinforced plans for importing.

Tuesday, December 20th, 2016
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Congress eyes taxes for natural gas

An attempt by congressional members to place a tax on natural gas brought about a quick rejection from the Colombian Natural Gas Association (Naturgas). Lawmakers appear to have backed down, but it raises a number of questions as to the tax strategy for fossil fuels.

Tuesday, December 20th, 2016
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CSR Summary: Ecopetrol awards projects in rural areas of Meta, Casanare and Vichada

Ecopetrol (NYSE:EC) budgeted over CoP$10B for projects to improve the conditions and quality of life in communities of Meta, Casanare and Vichada. These and other Corporate Social Responsibility (CSR) projects in our periodic summary.

Tuesday, December 20th, 2016
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GeoPark has a positive outlook on Colombia for 2017

With the recovery of oil prices, GeoPark (NYSE:GPRK), which has been in the country for four years, has positive prospects for 2017.

Tuesday, December 20th, 2016
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Plans for Pacific regasification plant taking shape

A port investment group (PIO SAS), is pushing forward to build Colombia’s second regasification plant called Puerto Solo, which would be located in Buenaventura, following the inauguration of Colombia’s first regasification plant Puerto Cayo in Cartagena.

Monday, December 19th, 2016
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ANH expects exploratory well improvement in 2017

ANH expects exploratory well improvement in 2017

The National Hydrocarbons Agency (ANH) expects oil price improvements to give a boost to exploration activities in 2017, and that in Colombia there will be more than 40 exploratory wells next year.

Monday, December 19th, 2016
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5 lessons from the USO

The USO is the union for Ecopetrol (NYSE:EC) workers and, perhaps surprisingly, one of the loudest voices against the oil industry and the ‘evil multinationals’ who dare to operate in Colombia.

Monday, December 19th, 2016
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Blame it on the ELN and Rubiales

Blame it on the ELN and Rubiales

The drop in crude oil production during 3Q16 was the steepest quarter-over-quarter drop since 4Q01, well before anyone in the Colombian government thought about transforming the industry.

Monday, December 19th, 2016
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Oxy restarts production at Caño Limon

Oxy (NYSE:OXY) has restarted production at the Caño Limon field after halting the operation for more than a week following an escalation of attacks on the Coveñas/Caño Limon pipeline by the ELN guerrilla.

Monday, December 19th, 2016
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USO demands better medical care for their retired workers

The USO said that by appointing Luis Guillermo Vélez Atehortúa as head of Ecopetrol’s health administration, Juan Carlos Echeverry made a ‘tactical’ move to begin to diminish the guarantees of the 70.000 users of the health system, embodied in the collective labor agreement.

Monday, December 19th, 2016
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