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Exploration goal continues to drop

Falling exploration activity remains one of the biggest concerns for the industry’s long term potential in Colombia, and the reduced goals set out by the National Hydrocarbons Agency (ANH) and the Colombian Petroleum Association (ACP) confirm this.

Monday, August 10th, 2015
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Governors vs Finance Ministry on royalties

A decision to freeze royalty funds after the fall in oil prices has the Finance Ministry at odds with departmental leaders, who want the funds to move forward with regional projects.

Thursday, August 6th, 2015
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MinMinas budget cuts spark concern

Comments that the Ministry of Mines and Energy (MinMinas) will face a readjustment of its budget has led to concern from observers who say this could further impact a sector that is already suffering and combines poorly with the fall in exploration.

Thursday, August 6th, 2015
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Peace Process: A glimmer of hope for the final stretch

The Colombian government’s chief negotiator in Havana Humberto de la Calle came forward with a strong statement that the talks are moving forward in Havana, and even put a time-frame on an agreement.

Thursday, August 6th, 2015
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ECP profits rise sequentially but production falls

ECP profits rise sequentially but production falls

Ecopetrol (NYSE:EC) grew its profit for the second straight quarter since its first loss as a listed company in the 4Q14, with refining posting a profit and adding a boost. Production has grown yearly, but fell off slightly compared to the previous quarter.

Thursday, August 6th, 2015
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Peace Process: A glimmer of hope for the final stretch

The Colombian government’s chief negotiator in Havana Humberto de la Calle came forward with a strong statement that the talks are moving forward in Havana, and even put a time-frame on an agreement.

Thursday, August 6th, 2015
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Increase the mix, lower the fuel price says biofuels association

Despite a constant message from the Ministry of Mines and Energy (MinMinas) that a rising price of biofuels has counteracted falling oil prices to keep fuel prices higher, the president of the biofuels association Fedebiocombustibles Jorge Bendeck says its more complicated than that, and increasing the mix would actually drop prices.

Wednesday, August 5th, 2015
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Parex out of the red in 2Q15

Parex out of the red in 2Q15

Parex Resources (TSX:PXT) saw its production grow slightly in the second quarter of 2015 when compared sequentially, and posted its first profit since the fall of oil prices early this year.

Wednesday, August 5th, 2015
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Environmental Summary: Ecopetrol responds on dumping rumors

Ecopetrol releases a statement denying dumping accusations while Puerto de Tumaco authorities question the Government response to oil contamination. These and other environmental stories in our periodic summary.

Wednesday, August 5th, 2015
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Transportation yielding fruit, despite attacks

The transportation of crude in 2014 suffered a number of high profile attacks but the business remains solid, with Cenit and Ocensa leading the market in terms of sales

Wednesday, August 5th, 2015
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