News and AnalysIs for

Barrancabermeja’s City Hall and economic associations will lead an indefinite strike to demand the refinery’s modernization, stopped back in 2010 as a result of the fall in international oil prices.

Medellín’s Mayor called for Ecopetrol (NYSE:EC) to sell cleaner fuel after environmental authorities declared the city on ‘red alert’ because of air quality, but the NOC’s president said if anything, the company is surpassing the official standards set for sulfur in fuel. The development of these and more stories in our periodic Eco Summary.

Canacol Energy Ltd. (TSX: CNE) reported its reserves volumes for 2016. The company is present in Lower Magdalena Valley, Llanos and Middle Magdalena basins in Colombia.

Codaltec and Colombian engineers designed and built a satellite radar to guard the Caño Limón-Coveñas pipeline.

The discussion of fracking generates much controversy in the country. Luis Gilberto Murillo, Minister of Environment, spoke about this technique and its possible implementation in Colombia.

Last week, the ‘Relevance of Exploration Projects in the Special Management area of La Macarena (AMEM) and the Ariari region’ public hearing, took place in the Senate of the Republic. Topics such as fracking and environmental impacts in the AMEM region were also discussed. HCC attended the event.

USO is not happy with Ecopetrol’s (NYSE:EC) decisions regarding Barrancabermeja’s refinery modernization plan, and the alleged ‘persecution to syndical leaders’ the NOC has exerted on its directives. The Union called for social mobilization acts across the country.

Attacks on the oil infrastructure are constant in the country and the Caño Limón-Coveñas pipeline has been one of the most affected. Ecopetrol (NYSE: EC) revealed figures on the impact.

Revisa Dinero columnist Gregorio Gandini recently showed a graph that seems to show fairly clearly that the Colombian peso and oil prices are almost perfectly (negatively) correlated.

A couple of weeks ago, we reported an announcement by ANH head Orlando Velandia that the long-anticipated Agreement 2 was ready. I wondered why only one newspaper picked up the story and now we know: it is not ready.