Ecopetrol (NYSE:EC), Petrobras (NYSE:PBR) and Repsol (MSE:REP:MC) are advancing in offshore exploration along the La Guajira coast and the former Minister of Mines and Energy Amylkar Acosta believes that there could be announcements of oil and gas discoveries in the coming months.
Incident counts went up this week to 19 but it was still the second lowest week in 2015. Armed Forces reported incidents doubled and non-Armed Forces were just below normal.
The USO has completed more than two weeks of strikes at Weatherford’s (NYSE:WFT) offices in Santander, and is accusing the firm and public officials of colluding against the rights of the workers and union.
Maybe finding gas has been seen as only a long double base hit, great news, but short of the high hopes of a home run. But the market forces in Colombia offer some protection from the turbulence of the global crude oil industry.
The new president of Ecopetrol (NYSE:EC) Juan Carlos Echeverry has made his first statements to the press, saying the NOC will focus on its most valuable fields, the Cartagena Refinery and offshore exploration.
After three weeks of blockades and protests from the El Morro community, which has led the the halt of operations at Equion’s Floreña well and facilities, community leaders have sat down with the firm and submitted eight demands that they are looking to see fulfilled.
President Santos insisted that although ending the armed conflict through dialog is his priority, if the Farc is being brutish, he will end negotiations, while countering criticisms from the outspoken Inspector General Alejandro Ordóñez.
New Ecopetrol (NYSE:EC) CEO Juan Carlos Echeverry made positive (although qualified) comments about fracking. Newspapers picked them up but those were the first positive reports we had seen for a long time.
Putumayo entities have suspended a dialog with the government and threatened another strike, while Parex commits to building another road in Aguazul. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
As part of its strategy to increase the longevity of Colombia’s proven crude reserves the National Hydrocarbons Agency (ANH) wants to grow the average recovery factor to 35% from the current average of 18%, by 2020.
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