High oil prices helped many countries to diversify and grow their economies. The Peterson Institute conducted an analysis of 40 nations to see if they took advantage of oil boom. Colombia was part of this research.
This has been an important week regarding the implementation of the peace agreements with the Farc, as the House of Representatives approved the law that will allow its debut as a political party, and Minister of the Interior, Juan Fernando Cristo announced a series of political reforms to be developed during the post conflict process.
Centro Democrático’s Senator, Ernesto Macías, has been persistently denouncing the lack of follow-up to the General System of Royalties (SGR) implemented by President Santos’ government.
The Colombian hydrocarbons sector had a difficult 2016, but this year has started with good news and good prospects. The Chipirón field is positioning as a way to recover a part of the lost oil production. Besides, this project is recognized as an environmental success.
Perhaps the most difficult social conflict problem today is in Guamal in Meta where Ecopetrol’s activities in CPO-9 have been interrupted by blockades and threatened with a ‘anti-oil’ referendum. We though readers might be interested in how the company is dealing with the matter from a public relations point of view.
The hydrocarbons industry is one of the most affected by infrastructure attacks and illicit acts. The reported number of these actions reduced last year, but these continue to generate large economic losses.
Last year was one of the hardest for the hydrocarbon industry. Production fell, investments declined to historically low levels and projects stopped, among many other problems. But, this year begins with good prospects and the sector hopes to recover some lost ground.
The Norwegian Embassy in Colombia in cooperation with the International Center for Hydropower (ICH) organized “Talks on peacebuilding in the energy sector: roads and challenges of the post conflict” in Bogotá. HCC was present at the event; we have a brief summary of the meeting.
Illegal fuel confiscations have been reported in Chocó and Norte de Santander more than in any other departments of the country, and violent protests in Ecopetrol’s (NYSE:EC) Casabe field let to losses in production. The development of these and more stories in our periodic Security Summary.
Ecopetrol (NYSE:EC) was ranked 454 among the 500 most valuable brands in the world in 2017. This is three positions above last year’s rank, where the NOC was number 457 in international Brand Finance’s classification.
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