With the naming of former Santos Finance Minister Juan Carlos Echeverry as the new president of Ecopetrol (NYSE:EC), the government planning to convert the NOC into a handy cash box to meet its immediate needs warned USO president Edwin Castaño.
A report of the Agustín Codazzi Geographical Institute (IGAC), which oversees political and land borders says there are 84 “questionable borders”, many of them falling in producing regions. Of these 20 will be prioritized in 2015 for clarification.
The graph shows Ecopetrol’s attributed Net Income to its Refining and Petrochemicals line of business for the full year 2014 and prior years. The good news is that things are not as bad as last year. The bad news is fairly obvious: it still lost nearly US$450M.
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.
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