Union and community members across the country march to protect water resources, meanwhile Ecopetrol reminds locals not to eat turtle and iguana meat during Easter week. These and other environmental stories in our periodic wrap up.
Colombia’s corporate regulator (Supersociedades) has created an “elite group” of experts to deal with a growing number of bankruptcies and company restructuring due to the oil price crisis, in the first quarter of the year the company registered two bankruptcies and 12 restructuring of service firms.
The new National Hydrocarbons Agency (ANH) president Mauricio de la Mora met with the president of the Chamber of Oil Goods and Services (Campetrol) Rubén Darío Lizarralde, to discuss a joint strategy to strengthen the oil sector.
Javier Gutierrez has officially stepped aside as the president of Ecopetrol, and in a last interview commented on the “not so low” tax rates paid by the industry and the structural situation which has pushed oil prices down.
The USO has continued to denounce the alleged firing of Ecopetrol (NYSE: EC) worker USO Vice President Edwin Palma when he published information on social media denouncing the high salaries of Ecopetrol management.
The Ministry of Mines and Energy (MinMinas) says that gasoline prices will stay at current levels while diesel experiences a small decrease, blaming factors such as a high price of ethanol and taking noticeable shift in tone since last month’s reduction.
Incident counts went down significantly this week to 11 and it is entirely due to our lowest recording of Armed Forces activity since we started this study in 1Q12.
The only concession contract in the Chocó Department assigned during the Colombia Round 2014 has failed to advance, and the reason has nothing to do with the price of oil.
Ecopetrol (NYSE:EC) and Pacific Rubiales (TSX:PRE) are both looking north and making the upcoming concession round in Mexico one of their main targets looking forward. Both are included in the list of 39 firms pre-qualified for Round One.
A study from Wood Mackenzie found that Colombia was home to four of the largest oil discoveries in Latin America during 2014, including the largest one, which was Petrobras’ (NYSE:PBR) Orca, with 264mmboe.
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