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Finally ruling on one of the more controversial and uncertain scenarios facing the Colombian oil industry, Ecoeptrol (NYSE:EC) has said it would not renew its association contract with Pacific Rubiales (TSX:PRE) for Colombia’s largest producing field, Rubiales.

The Minister of Mines and Energy Tomás González says that the government’s objective is keep production at a million barrels a day despite the fall in international oil prices, and that there is interest among international companies to invest in Colombia.

GasMinMinas reported that gas production rose in February due to “demand behavior for the Riohacha, Cupiagua, Cusiana and Pauto fields”. The graph shows that while February numbers rose, the trend is not so postitive.

President Juan Manuel Santos has ordered Colombian armed forces to cease bombings of Farc camps for one month, a milestone decision after over two years of peace negotiations. The government and Farc also announced an agreement to start de-mining operations in conflict areas.

The central government is considering more relief measures for the hydrocarbons industry to create incentives for more investment in exploration through a rehash of its energy policies.

The low price of oil is putting Colombia’s biofuels industry and future investments for it at risk says the National Federation of Biofuels (Fedebiocombustibles), although Ecopetrol’s (NYSE:EC) biofuel unit Bioenergy says it will move forward will an expansion of sugar cane crops for fuels and a long delayed plant.

The number of attacks on oil infrastructure has dropped considerably, in fact in January and February only two were reported, but 2014 showed that the guerrilla’s methods remain very effective despite lowered activity.

Ecopetrol (NYSE:EC) says it has a contingency workforce and that a strike by the USO oil workers union would be illegal and could lead to dismissals. Meanwhile the union is preparing a 24 hours strike for March 19, which could be expanded into an indefinite one.

Nunchía authorities agreed to expedite the disbursement of CoP$1B (US$380,000) for electrification and gas coverage expansion from the Bicentennial Pipeline while the ANH and UN Development Program have started workshops to improve community relationships with the industry. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.

Parex Resources (TSX:PXT) posted strong production gains in 2014 through acquisitions and organic growth, hitting 22,526boed average for the year, a 42% increase over 2013. However struck by the fall in world oil prices, the company reported a net loss for the year of US$108.8M although more than 100% of this was due to a non-cash write down of assets in Colombia and Trinidad.