The General controller Edgardo Maya Villazón said that royalty projects should face tighter time-frames due to the large quantity of projects that have been approved but not implemented. This and other royalty-related stories in our periodic summary.
A local paper dedicated a full feature article to explain the hope generated by the El Alcaraván sugar cane ethanol plant announced in 2010 by Ecopetrol’s (NYSE:EC) Bioenergy, and the impact its mismanagement left on the municipality of Puerto López, Meta.
Ecopetrol (NYSE:EC) has withdrawn its participation in a consortium formed to bid on offshore blocks in the Mexico Round 1 just days ahead of the presentation of bids.
Parex Resources (TSX:PXT) and Cepcolsa are working with local suppliers in Aguazul in an initiative led by a Casanare assembly representative, while Ecopetrol (NYSE:EC) also signs four agreements for Corporate Social Responsibility (CSR) projects in Casanare. These and other stories in our periodic summary.
Considering that production is up over 3.5% so far this year but crude oil prices are way down, we decide to see how total industry revenues might be tracking.
The Transport Ministry’s Intermodal Master Transport Plan looks to consolidate the transport and logistical infrastructure in Colombia, and held its third socialization ahead of its next national meeting in August of this year.
The National Planning Department (DNP) says that it will dip into resources from the Regional Development and Stabilization Fund and use past surpluses so that the 2015-16 royalty budget can be implemented despite a CoP$6T gap in funding due to the fall in world oil prices.
The Colombia-Canada Chamber of Commerce (CCCC) is a protagonist in the oil and gas industry, considering the importance of Canadian investors in the sector.
The total incident count was down again to 33 but guerrilla-initiated incidents (by our methodology) were up by 2 and the 4-week trend continued up.
The USO takes credit for averting “mass lay offs” in Pacific Rubiales (TSX:PRE) after organizing protests in the Rubiales area.
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