MinMinas asked for comments on its 2015 action plan but gave the public only two business days to do so. We were surprised by the distribution of importance but maybe we should not have been.
Ecopetrol invests in Putumayo, Norte de Santander while the Cartagena Refinery (Reficar) was accepted into the Global Compact. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
Incident counts were down to 22 as were non-Armed Forces reported incidents but we do not like the qualitative feel of what is happening.
At the end of November 2014, reports surfaced that the Cartagena Refinery would be functional in January 2015 and see its commercial launch in August 2015. But in Ecopetrol’s (NYSE:EC) latest earning results, management said that once again, that timeframe will be pushed back.
With figures on the development of 6,770 royalty projects from 2012-14, the fact that 77.14% of projects have advanced to the hiring of services is being heralded by the National Federation of Departments (FND) while the Controller General is worried about those that have not advanced.
Workers for the contractor Serpetec have been striking for 15 days, claiming their employer owes them several months’ salary. The workers have scheduled a rally in the Casabe field.
Canacol Energy (TSX:CNE) reported that daily production volumes increased by 1% in the first quarter 2015 (its Fiscal Year 2015 third quarter), but that peso devaluation and global oil prices led to a net loss.
The Minister of Mines and Energy Tomás González attended an investment promotion event greeted attendees with a message the Colombia has clear rules and vast potential for unconventional and offshore projects.
A recent study from the Ministry of Mines and Energy (MinMinas) think tank UPME says that annual royalties could drop by as much as CoP$5.3T (US$2.18B) by 2024.
President Juan Manuel Santos facilitated a meeting between the heads of the Farc and ELN, Rodrigo Londoño Echeverry and Nicolás Rodríguez Bautista in Havana that has caused an outcry in congress.
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