News and AnalysIs for

Companies from Meta and Casanare associated with the oil & gas industry are working with an initiative of the commercial vendors association Fenalco’s Meta chapter to consolidate an Orinoquia-based cluster to better integrate this industry.

The Central Workers Union (CUT) has entered the labor dispute generated as companies cut costs due to the fall in oil prices, and is promoting a strike of oil workers. Meanwhile the USO oil workers union has the member vote to strike, and promises that they will take action very soon.

Incident counts went down significantly this week to 21 but as the graph shows, our proxy for guerrilla-initiated activity remained in the same ‘channel’ it has followed since the Farc declared its unilateral truce.

The new royalty system amounted to a substantial drop in resources received as royalties by producing departments, and now in Meta the estimate is that of the established budget, only 50% will come through due to the fall in oil prices. This and other royalty ready stories in our routine wrap up.

An announcement from Ecopetrol (NYSE:EC) that it would restrict its public wholesale offer of propane could have an alarming impact on low income communities along with health and environmental implications says the Union of Colombian Propane Companies (Gasnova).

Ecoperol cannot live of off “excessive prices” on fuel at the expense of Colombians, says the outspoken Meta Senator Maritza Martínez.

Ecopetrol posted a steep drop in profits in 2014 as the fall in the price of oil and a rise in costs took a hit on the company’s financial results.

The price of fuel in Colombia fell for the fourth straight month, but the Ministry of Mines and Energy (MinMInas) says that a weak peso against the dollar continues to keep the fall modest.

Corporate social responsibility (CSR) are exposed to deep cuts due to the oil price, although there are still many 2015 projects that already have their funding assigned, and Ecopetrol (NYSE:EC) has a steady flow of projects that have hit the press. These and other stories on CSR in our periodic summary.

The Minister of Mines and Energy Tomás González was on hand to herald the inauguration of Equion’s Floreña central processing facility (CPF), which he said is more important than ever considering the fall in oil prices.