The Santander Governor Richard Aguilar Villa said that he was able to confirm an official visit from Ecopetrol (NYSE:EC) president Juan Carlos Echeverry to discuss the future of the Barrancabermeja Refinery and address employment alternatives.
Ecopetrol (NYSE: EC) president Juan Carlos Echeverry and the USO president Edwin Castaño coincided at a private event in Bogota, where the USO says that Castaño addressed his concerns about the statement the executive made April 7th on smaller oil fields and a supposed inconsistency in the figures presented on the number of Ecopetrol wells.
The Ministry of Mines and Energy (MinMinas) inched fuel prices up for the first time this year, but reinforced that Colombians will not see large changes in the fuel price even if international prices climb.
Ecopetrol (NYSE:EC) shifted its exports from Asia to Central America and the Caribbean. Could Venezuela’s need to end subsidies in Petrocaribe be the driver?
Norway and Cuba are calling for the government and the Farc to try and preserve Havana peace negotiations after 40 guerrillas were killed in three military attacks in Cauca, Antioquia and Chocó, leading the guerrilla to call off its unilateral cease fire.
Asset management and maintenance should be higher on the list of priorities for the oil industry, especially in the face of an industry slump, says the Colombian Association of Engineers (Aciem). While in Europe these activities generate more than 500,000 jobs and US$21B in services, there are no consolidated figures for Colombia.
The Pacific Pipeline is beginning to take shape and officials expect to conclude prior consultation this year, but construction will not likely get moving until the beginning of 2017.
Colombia’s State Council suspended the legal effects of a norm issued by the National Mining Angecy and Ministry of Mines and Energy that created 516 mining zones, rules which had loosened prior consultation requirements. Industry representatives say this is a blow to the production potential and creates unclear rules.
Putumayo has been hard hit by the fall in oil prices, but the overall impact of tax reforms and social conflicts, especially in Bajo Putumayo, are also taking a toll on the productive potential of the region. More dialogue is needed between the community and industry says the president of the Colombian Petroleum Association (ACP) Francisco Lloreda.
President Juan Manuel Santos inaugurated the expanded and renovated Tenaris’ (NYSE: TS) tubing production plant. The modernization project took 18 months to complete and required an investment of US$240M
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