Accusations of unfair competition, of a monopoly and aggressive tactics against family-owned fuel stations have made press, with a particular emphasis on Terpel, which critics say has crossed a line as a wholesaler and retailer.
Ecopetrol (NYSE:EC) has made good on promises to sell off its non-core assets, and has announced a ‘2016 Field Round’ in which it is auctioning 20 assets to the oil & gas industry.
Last week Ecopetrol (NYSE:EC) announced its long-anticipated ‘Ronda 2016’, putting 100% of the NOC’s participation in 20 areas up for sale (bundled into 17 so-called opportunities).
The USO welcomed the “historic and transcendental” agreement between the Farc and the national government, which it says creates a commitment for the Farc to laydown arms, but also for the state to recognize their status as a political movement. And the union’s ‘fiesta’ ahead of the Rubiales reversion continues.
The National Hydrocarbons Agency (ANH) has been willing to negotiate contract terms of E&P contracts as one of the benefits delivered to the industry due to the fall of oil prices. But rarely do these agreements get released to the public. A recent agreement made with Interoil over COR-6 gives us a small window into this process.
Residents of Pasacaballos, located in the area of influence of the Cartagena Refinery (Reficar) have appealed the rejection of a local judge to the Supreme Court of Justice to receive an injunction against Reficar for not respecting their right to a prior consultation.
Agree or disagree with the peace process, Thursday’s signing of a bilateral ceasefire is a watershed point in Colombian history.
A small sign of progress as Ecopetrol (NYSE:EC) confirmed that it has restarted a drilling campaign, with new developmental wells in the Chichimene and Castilla fields, after a renegotiation of its drilling contracts that culminated last month.
After a successful strategy to diversify its production towards gas, Canacol Energy (TSX:CNE) says that it could replace 60% of Colombia’s current natural gas reserves, but to do so infrastructure bottlenecks must be addressed.
Government and Farc negotiators announced on Wednesday that an agreement had been reached on a bilateral and definitive cease fire. President Juan Manuel Santos and other heads of states gathered in Havana today (Thursday, June 23) to sign the agreement.
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