The Heavy Crude Pipeline of Ecuador (OCP Ecuador) recently announced it has moved 10mmbl of Colombian crude, as the pipeline benefits from production in Putumayo. But the firm’s president Andrés Mendizábal explains its current volumes are well short of its original goals.
Turkish Petroleum International (TPIC) has publicly rejected blockades carried out by residents in rural areas of Cúcuta which have prevented it from building a platform to build its planned exploratory well Aslan-1.
InfrastructureTitled by the Colombian press as ‘the center of the biggest corruption acts in the country’s history’, the construction of the Cartagena Refinery (Reficar) by Ecopetrol (NYSE:EC) has once again generated headlines as it has a new management team.
The Mining Energy Planning Unit (UPME) is opening spaces for dialogue with communities, businesspersons and other parties related to the mining sector. The aim is to create a “Mining Development Plan” that includes everyone. HCC was present at the event.
Ecopetrol (NYSE:EC) said that it has been able to set new records for its drilling times and costs in the Rubiales field, dropping times by 22% and costs by 20%. The NOC also highlighted the benefits the campaign has brought to local hires.
Ecopetrol (NYSE:EC) issued a report on its third quarter 2016 contractor work force, showing an average of 21,700 people working on NOC projects through outside firms, with as much as 86% of them coming from the same region as the project. This and other Corporate Social Responsibility (CSR) projects in our routine summary.
Even with its environmental licenses approved and delivered, Hocol is facing stiff resistance from communities in La Macarena, Meta which accuse the firm of downplaying its project and putting water resources at risk.
Government authorities inaugurated Colombia’s first regasification plant, El Cayao, in Cartagena, which is designed to be the backup for Colombia’s natural gas supply.
The tax reform is poised to be the dominant issue in this month as 2016, and the congressional session, winds to a halt. The oil industry has submitted its wish list, but the financial shortfalls of the government’s budget makes any landmark gains look unlikely.
Ecopetrol (NYSE:EC) 3Q16 Line of Business (LoB) results show that Refining is once again profitability challenged while E&P is getting better all the time.
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