News and AnalysIs for

Incident counts went down again this week to 23 but the Armed Forces and other sources have started to call out the Farc for truce violations.

Fed up with a persistent blockade at its Floreña wells and CDF, Equion has suspended all work at its Floreña A, I and T wells and construction work still being performed at the recently inaugurated Floreña CPF.

Ecopetrol got some attention for its investment and spending on environmental matters, which totaled CoP$805B (US$317.9M) over the last five years. But the NOC also said it had nothing to do with a spill for which residents in Coveñas have filed a lawsuit. These and other environmental stories in our periodic wrap up.

The political forces that successfully swayed Ecopetrol’s (NYSE:EC) board to not renew the association contract with Pacific Rubiales (TSX:PRE) have moved on to the next step, that Ecopetrol operate the field directly, opening the door to the USO union to enter the field.

Fresh off a 24-hour strike on March 19, the USO said they will meet with Ecopetrol and government representatives on March 25, and then determine if they will continue with an indefinite strike as promised.

Both national and local leaders have taken to talk of an opportunity to strengthen other sectors outside of oil and create a more diversified economy, and many planned projects, including a micro-refinery in Meta, will have to be reconsidered. These and others stories in our periodic review of the impact of the fall in oil prices.

As the debate on the the National Development Plan for the next four years starts in Colombia’s congress, the Minister of Mines and Energy (MinMinas) Tomás González has made another public appeal for flexibility for companies in the oil industry, considering the price crisis.

The Ministry of Mines and Energy (MinMinas) is advancing with a resolution that would rework how territorial entities share royalties of projects on properties which overlap regional borders, introducing a new formula.

Outspoken critic of Santos and the Farc peace process, senator Álvaro Uribe has emerged with new talking points on the peace process, calling for geographical isolation and a cautious pace, instead of outright rejection.

The UTEN workers union which represents workers with Pacific Rubiales (TSX:PRE) has an uncertain future due to the decision of Ecopetrol (NYSE:EC) to not renew its association contract with the Canadian operator for the Rubiales Field.