The lack of a concrete advance or a clear timeframe in the peace process is starting to take a significant toll on support for the process with the Farc, as a recent Gallup poll showed 66% of Colombians think the process is not on track.
Recommendations for contractors with inflated prices, a passing of blame between Presidents Juan Manuel Santos and Alvaro Uribe and accusations of prostitutes winning contracts have taken the scandal surrounding the Cartagena Refinery (Reficar) to an all new level.
Ecopetrol (NYSE:EC) once again posted a profit in the first quarter of 2016 of CoP$363B (US$123.7M), as its transport business benefits its bottom line, coupled with cost cutting and a favorable exchange rate.
While the number of attacks on the Coveñas/Caño Limón pipeline has fallen dramatically, Ecopetrol (NYSE:EC) is facing the high cost of illegal valves and pipeline theft.
One of the initiatives of the former president of the National Hydrocarbons Agency (ANH) Mauricio de la Mora is to allow international investment funds to partner with oil companies or contractors to create new investment, and the regulations to allow it are nearly ready.
The National Agency of Environmental Licenses (ANLA) made a mistake by granting an environmental license to Hupecol for a production block some 68km from the Caño Cristales river, but rectified its error by revoking the license, said President Juan Manuel Santos.
Facing mounting criticism for cost overruns and poor contracting practices, Ecopetrol (NYSE:EC) president Juan Carlos Echeverry said the NOC is implementing a new strategy for how it purchases goods and services and manages its projects.
A congressional representative from Caquetá allege that with growing E&P activity, the oil industry has intimidated the local population into accepting its presence and taken advantage of the unmet needs of the community to gain traction for potentially damaging projects.
The Ministry of Mines and Energy (MinMinas) reported that once gain fuel prices will start to increase after successive drops in recent periods. The international price of fuel and increased biofuel costs were cited as the reason.
The new Minister of Mines and Energy Germán Arce gave his first interview to national press, addressing controversy surrounding the electrical energy offer and the issuing of environmental licenses for sustainable projects. He also defended fracking.
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