After being assured that Ecopetrol (NYSE: EC) will not be privatized, the USO called off their indefinite strike – but already a new issue has flared up. The USO is now contemplating another strike in response to Ecopetrol’s firing of USO vice president Edwin Palma.
Current reserves mean that the domestic gas network should have supply for another 10 years says the president of gas distributor Promigas Antonio Celia.
Incident counts went down again this week to 20 and our indicator of guerrilla-initiated activity is at its lowest since early January.
The USO will not go forward with threats of an indefinite strike and the National Hydrocarbons Agency (ANH) has a new president, who faces a steep challenge from day one.
While de-mining operations have started in parts of the country, the Farc said that there are plenty of unresolved issues in Havana so will not de-mine parts of the jungle as a way to protect their strongholds.
Former Colombian Central Bank head, Miguel Urrutia published a spirited defensive of high gasoline taxes. It appears the Colombian government is listening.
Production and logistical costs in Colombia are above the average for other South American producers, creating a liability in a time of low oil prices.
Following a meeting between the USO oil workers union president Edwin Castaño and a number of government ministers, vice ministers and the head of the National Planning Department (DNP) Simon Gaviria, the union said that it would not hold an indefinite strike after Gaviria made statements that Ecopetrol would not be privatized.
Despite the well-documented glut of oil in the US – which has (depending on viewpoint) contributed or caused the dramatic fall in oil prices since mid-2014 – Ecopetrol (NYSE:EC) actually increased its exports to the US in 4Q14.
Ecopetrol makes top ten list for Colombian CSR while the company receives attacks for allegedly canceling the reconstruction of a Villavicencio school. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
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