The USO has jumped on board with a theory that the government is working behind the scenes to create a scenario that would favor the sale of Ecopetrol (NYSE:EC) to private individuals and companies and ruin local economies.
Terpel’s Gazel chain says that it expects that within 5-10 years there will be up to 30,000 buses and trucks running on natural gas instead of diesel.
The Chamber of Representatives took a look at the issue of fracking as part of the debate over the 2015-2016 royalty budget, calling on representatives from industry associations and private companies.
The Finance Minister (MinHacienda) Mauricio Cárdenas said that an agreement has been reached with congress that will see a phasing out of the wealth tax on companies by 2018, although it will maintain the tax for individuals.
A volatile week for the peace talks after General Rubén Darío Alzate ended up in Farc hands, causing the government to suspend talks on Monday. An agreement appears to be in place that would liberate him and two other hostages, but many questions still remain.
Latin American oil and gas producer Geopark (NYSE:GPRK) saw its overall production grow 66% year-over-year to reach 21,548bd in its overall production, with a 68% increase in Colombia to reach 11,934bd.
The president of the Colombian Petroleum Association (ACP) Francisco Lloreda Mera touched upon the falling price of oil, tax reforms and the outlook going forward, reinforcing the strategic position of the industry for government income.
Ecopetrol (NYSE:EC) gave a summary of its Corporate Social Responsibility (CSR) projects in Arauca and Casanare, while Amerisur participated in a program that converted families growing coca to pepper crops after 24 years of illicit farming. These and other stories in our regular round up of CSR related stories.
The National Association of Financial Institutions projects that once the modernization project of the Cartagena Refinery (Reficar) is finished, it could translate into 3.9% annual growth for oil refining between 2015-2020 and lead growth in the production of petrochemicals and plastics.
The government’s formula to fix gasoline prices aims for stability despite changes in the international price of oil, for better or worse. But some are questioning who is benefiting when oil prices have dropped over 20% in the last six months, but fuel prices less than 2%.
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