Looking for new ways to grow its already significant fuel and lubricant distribution business, Terpel put new emphasis on the quality of service offered to customers, adjusting its infrastructure to do so, and logged a 6% increase in sales as a result in 2015.
Ecopetrol (NYSE:EC) worked with medical associations to offer several different health care initiatives, including 60 surgeries to correct cleft lip and palate in children living in the area of Barrancabermeja. This and other Corporate Social Responsibility (CSR) stories in our periodic summary.
The Minister of Mines and Energy (MinMinas) Germán Arce confirmed that the ministry is open to studying a proposal from the truckers association to lower the price of diesel, as a trucker strike drags on since the beginning of the month.
Claudia González Hernández, the interim director of the National Agency of Environmental Licenses (ANLA) insists that the entity is merely enforcing the standards and norms as stipulated by law, and that it is not responsible for any drop in investment in projects.
The World Bank performed a study of innovation at the global level and highlighted the importance of INNpulsa Colombia as a key institution for helping to develop Colombia´s productivity. Ecopetrol (NYSE:EC) is positioned as one of INNpulsa important partners.
Ecopetrol (NYSE:EC) now has full authorization to sell its petrochemical unit Propilco, despite questioning from critics as the operation can benefit from an expanded Cartagena Refinery (Reficar), one of the arguments used by the NOC to justify its acquisition in the first place in 2007.
The fall in global crude benchmarks took Colombia’s realized sales price with it. According to figures from the Colombian Petroleum Association, Colombia’s price averaged US$26/barrel during the first quarter of the year.
The National Planning Department (DNP) said that it has suspended, if only temporarily, royalty payments to 124 municipalities in 24 departments for not meeting the deadlines to notify authorities of the advances and current state of projects funded with royalty money. This and other royalty related stories in our periodic summary.
Ecopetrol (NYSE:EC) has celebrated the 31st anniversary of the Colombian Petroleum Institute (ICP) its R&D center which it says has delivered proven benefits to the NOC worth US$4.17B.
The reversion of the Rubiales field was an achievement for unions, social movements, political leaders and rural residents who worked together to force Ecopetrol (NYSE:EC) to take the field back, says the USO oil workers union.
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