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.
The Colombian Petroleum Association (ACP) has again called on the government to take immediate action to avoid that more exploration projects are shuttered or halted.
Mauricio de la Mora has been confirmed as the new president of the National Hydrocarbons Agency (ANH), replacing Javier Betancourt and taking charge of the agency at a fragile moment for the industry.
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.
2025, Hydrocarbons Colombia, All Rights Reserved.
