News and AnalysIs for

The current fall in oil prices, and commodities in general, has plenty in common with the price crisis felt in 2008. But there are several key differences that show today’s situation is the end of a super-cycle for commodities.

The Colombian oil industry is facing serious challenges for its long term future, and day-to-day fixes are not enough says the president of the Colombian Petroleum Association (ACP) Francisco Lloreda.

GeoPark has helped develop training programs on IFRS standards, meanwhile the firm also has assisted in the coordination of an educational seminar on free competition. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.

Spanish agro-industrial firm Riopaila-Castilla will inaugurate its US$133M sugarcane ethanol plant at the end of the month in the municipality of Zarzal, in Valle de Cauca.

Ecopetrol’s (NYSE:EC) stock has fallen to historic lows on the Bogota exchange and has also suffered in New York, while the company’s president Juan Carlos Echeverry calls for calm.

The Mining Energy Planning Unit (UPME) director Jorge Valencia says that whether it is through parallel networks, capacity increases or new routes to accommodate imported gas, more natural gas infrastructure is required to serve growing demand.

The USO says it has been observing the Cartagena Refinery (Reficar) project to make sure it has been meeting quality and labor standards as the process to finish the plant winds down.

Guerrilla-initiated incidents by both groups stayed down this week and the Armed Forces also cut back their activities, at least in oil-and-gas areas. As a result, total incidents fell to 22.

Even though the Farc has backed off and not attacked any pipelines since the start of its July 20 truce, the Coveñas/Caño Limón Pipeline (CCL) has suffered in the month of August due to the attacks over the last two months.

The Ministry of Mines and Energy (MinMinas) has approved three more measures to promote exploration and production and confront the fall in oil prices. The Agreement 03 is part of its “PIPE” stimulus for the industry.