News and AnalysIs for

It has been a while since the industry has done this well in CSR news. Ocensa, Equión and Ecopetrol (NYSE:EC) reiterated their commitment to the communities of their area of influence, and social investment projects are being successfully developed in Colombian’s rural areas. These and other Corporate Social Responsibility (CSR) in our periodic summary.

Communities of Putumayo say they disagree with the work of Amerisur (LON: AMER) in their region. Some indigenous and farming communities have taken legal action against the company.

Amerisur Resources Plc (LON: AMER) announced asset acquisitions in the Caguan-Putumayo Basin. The blocks were bought from Pacific Energy E&P (TSX: PEN).

Fearing a possible detriment of water sources and vegetation in their territories, a group of farmers from the Banco de Arena and Palmarito settlements, submitted a popular action to stop Turkish Petroleum from developing oil in the rural area of Cúcuta.

Apparently, “reject” is USO’s favorite word since pretty much every single of its statements or headlines start with it. The Union ‘rejected’ the development of oil activities in La Macarena Park and Sierra Macarena Reserve, as well as Ecopetrol’s (NYSE:EC) decisions regarding workers’ wages and working conditions in Cusiana and Reficar.

Casanare Chamber of Commerce (CCC) created the Oil & Gas Cluster to help the services business in Casanare, presenting proposals to improve processes in the oil industry. The first initiative was announced in recent days.

Jaime Checa is a prominent geophysicist who is troubled by the way the industry is evolving, especially its complicated relationship with communities.

Ecopetrol (NYSE:EC) published its 4Q16 results which allows us to update our Line-of-Business (LoB) charts for the entire year. After an encouraging 2015 and significant new capability in Reficar and Barrancabermeja, ECP’s refinery business was again the loser.

Pacific E&P (TSX: PEN) announced its financial statements for last year. The company reported a net production decrease and lower financial results, but the firm reported positive net income thanks to the restructuring.

Colombian President Juan Manuel Santos, met with members of the sector to discuss the challenges for this year. At the meeting, they also talked about the sector’s progress during last year.