Bogota´s District Administration has levied a CoP$4.474B (US$1.42M) fine on Petrobras (NYSE:PBR) for a fuel leak detected at one of its fueling stations in 2010. This and other environmental stories in our periodic summary.
Geopark (NYSE:EC) said that both its oil and gas production has risen in the third quarter of 2016, which grew revenues 8% compared to the prior quarter, but its operation still resulted in a loss for the period.
The Ministry of Mines and Energy (MinMinas) said that it has delivered resources from its production incentive program to benefit both victims of the armed conflict and environmental recovery in the Cesar Cepartment.
The president of Ecopetrol (NYSE:EC) Juan Carlos Echeverry said that Colombians are facing a “trilemma” and must decide whether to leave oil in the subsoil or convert it into resources which can be used for well-being and peace.
We have been tracking some questions for several editions of our Quick Pulse survey and that allows us to look at how pessimism has changed over the recent past; the evolution of ‘bad’ if you will.
Government negotiators and Farc spokespersons announced that a new peace agreement had been achieved. However, I wonder if this really means that we are closer to the post-conflict in Colombia or whether this is still way off in the distance.
The USO took the time the last week to participate in a forum against a planned tax reform for this year, and argued that it will harm the finances of Colombia’s workers.
Ecopetrol (NYSE:EC) third quarter 2016 oil and gas production showed a slight dip causing revenues to fall, and the firm said higher taxes cut into its profit. The firm expects to counteract falling production by new drilling, and has its sights set on exploration for 2017.
The Minister of Mines and Energy German Arce told his home department of Valle de Cauca that the government is clearing the path for a Pacific regasification plant in Buenaventura, but also could be creating a future conflict by insisting it would “be like having a Cusiana field” in the area.
The Ecuador Heavy Crude Oil Pipeline (OCP Ecuador) has reached its goal of transporting 10mmbl of Colombian oil.
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