Bad week for Mexican President Enrique Peña Nieto: a top crime boss escapes from prison in spectacular fashion and the much vaunted Round 1 (shallow water) auction was a spectacular failure. We publish the results and make commentaries on what this means for Mexico, Colombia and the region.
As Ecopetrol (NYSE: EC) finished cleaning up the aftermath of a Farc attack, Cormacarena and others denounce the Farc’s irreparable damage to the environment. These and other environmental stories in our periodic summary.
The oil industry is one of Colombia’s economic pillars, but onshore exploration activity needs a substantial boost otherwise the impact will be felt in regions and the local economy, warns Colombia’s Chamber of Oil Goods and Services (Campetrol).
With three months under his belt as Ecopetrol (NYSE:EC) president Juan Carlos Echverry has started leaving his mark on the structure of the NOC as it looks to fulfill its new strategy through 2020, but structural challenges remain strong.
The Farc announced a new unilateral truce but only after July 20th. Meantime, the total incident count was down again to 32 but guerrilla-initiated incidents (by our methodology) were flat and the 4-week trend continued up.
In the Putumayo department delegates from a number of oil companies will meet to form a committee to better the region’s roadways, while Ecopetrol’s (NYSE:EC) programs in Meta have received attention from local press. These and other stories in our periodic summary of Corporate Social Responsibility (CSR) news.
Pacific Rubiales Energy (TSX:PRE) CEO Ronald Pantin says that the company is on solid financial standing and will be able to pay its long term debts and grow production, despite the collapse of the offer by investment groups Alfa and Harbour Energy.
A collection of research and environmental organizations have launched a new tool and map of Colombia’s continental, coastal and marine ecosystems in order to identify the current state of these environments and monitor their status.
On average, the major Colombian-committed producers improved their performance relative to global indices. The curve shows the average of all the stocks we track (see Methodology Note) adjusted for the average of the TSX Oil and Gas index (TXOI) and the corresponding NYSE index (^XOI) – a proxy for the global performance of oil and gas stocks generally.
The USO said that the arrests of two community leaders in association with protests in the Rubiales field is the latest judicial frame-up by the industry designed to hurt labor union rights in Colombia.
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