Ecopetrol (NYSE:EC) hosted a workshop on journalistic ethics, will support a major vehicular bridge in Meta and lent a hand in a spill cleanup. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
Little or no information on biodiversity in Colombia’s offshore blocks and lack of a clear regulatory framework for offshore are two of the issues that are getting more attention following two offshore discoveries made by Ecopetrol over the last year.
An ambitious project underway to make the Magdalena River navigable for large cargo convoys has the government promoting it for its general economic benefit. But the project does have its naysayers, who point to the long term environmental impact and question how much it will improve life in villages along Colombia’s longest river.
The Armed Forces are still recording ‘hits’ like Farc guerrillas captured or killed but our statistics show a definitive reduction in their activity. The Farc appear to be well-behaved. The ELN are not.
The Northern Europeans are probably jubilant with the events of the last couple of weeks and editorial cartoonists have started once again to lampoon President Juan Manuel Santos’ alleged Nobel Peace Prize ambitions.
We doubt that CEO Juan Carlos Echeverry would agree with the statement in our title and it is admittedly, more than a little exaggerated for effect. But the company’s profits at least are shifting towards the hydrocarbons transportation line-of-business.
Gran Tierra Energy (TSX:GTE) issued its results for the second quarter, the first full earnings period since a new management team took the helm of the firm and redirected its strategic focus to Colombia, posting steady but flat production and a narrowed net loss.
In ten years Meta’s Puerto Gaitán, located next to the Rubiales field, went from the department’s poorest community to oil boom town, and with the price drop the bubble has apparently burst once again for the local economy.
As the Cartagena Refinery (Reficar) advances, the USO has taken aim at labor conditions and says it has formed a delegation which along with the Labor Ministry will visit the refinery to confirm its accusations.
Falling exploration activity remains one of the biggest concerns for the industry’s long term potential in Colombia, and the reduced goals set out by the National Hydrocarbons Agency (ANH) and the Colombian Petroleum Association (ACP) confirm this.
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