Emboldened by the recent decision for Ecopetrol (NYSE:EC) to directly operate the Rubiales field, the USO has now taken direct issue with the NOC president Juan Carlos Echeverry, who the union claims is dismantling the company to be privatized and targeting workers in favor of multinationals.
Last week we tweeted an article from NGO CERAC with a graph showing that, since the last truce, most combats between the guerrilla and the Armed Forces were initiated by the Armed Forces. This data was seized upon by the Farc as evidence to support their view that the truce should be bilateral, a position rapidly rejected, at least by the Defense Minister.
Impairment charges and drop in revenues dogged the third quarter results of Pacific E&P, while analysts eagerly await more details on its plans to sell off midstream and infrastructure assets.
Gases de Occidente says that it is prepared to invest US$50M in a 111km pipeline from Valle del Cauca to Buenaventura to improve the natural gas offer, which will take three years to build, but is still awaiting approval from the Energy and Gas Regulation Commission (CREG) on its planned rates.
The Ministry of Mines and Energy has released a number of measures designed to improve the supply of energy and curb its demand in light of the El Niño weather phenomenon.
The Farc warned that military operations are putting its cease fire at risk, and look bent on keeping the progress in Havana as slow as possible. It also said that a popular referendum on the agreement does not represent the organization.
Gran Tierra’s (TSX:GTE) new management team has promised to refocus the company on Colombia and they did manage to have nearly 5% growth in Colombian production in 3Q15 although it remains within the same band as the last three years.
Nearly three thousand Colombians have benefited from Ecopetrol’s (NYSE:EC) professional training initiative over the last year, while Hocol invests in sponsoring local festivals. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
The president of the Colombian Natural Gas Association Eduardo Pizano says that there must be an emphasis on finding new gas to meet the demand, and that without these discoveries it will be impossible to justify more distribution infrastructure.
A national paper has published a report pointing out the importance of creating stimulus measures to invest in secondary recovery, which would allow vital reserve growth from Colombia’s existing fields.
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