Ecopetrol and Hocol have paved stretchs of highway in Meta and Casanare, while in Yopal the local government is requiring escorts for heavy vehicles to reduce accidents. Pacific Rubiales (TSX:PRE) and community members avoided a blockade after police intervened in Casanare. These and other stories in our periodic coverage of road issues related to the oil industry.
Ecopetrol (NYSE:EC) says that it has successfully sent the first shipment of heavy crude to the Coveñas port using a new butane diluent designed to replace imported naphtha, a technique the NOC says could save it US$70M a year.
Parex Resources (TSX:PXT) has revised its 2015 capital spending plan and cut planned investments to US$145-155M from US$300M as a result of falling oil prices. But the firm says it still expects annual production growth of 18% for the new year.
Ecopetrol (NYSE:EC) has been busy showcasing its Corporate Social Responsibility (CSR) achievements to local media outlets across the country. From water treatment facilities to training, we take a look at these programs in our periodic summary of CSR related news.
The government announced a slight drop in fuel prices as it covers shortfalls in the fuel stabilization fund, which has politicians and the fuel industry retailers calling foul.
The USO says that at the start of 2015 the union has four initial goals for the year, starting with a permanent assembly it is organizing against Haliburton (NYSE:HAL).
Outcry over plans to increase the price natural gas as it is fixed by the market has led to an agreement between the government and industry to postpone planned rate increases this month.
High level negotiations between the government and community leaders are rumored to be underway, which could produce a bill that would establish a clearer system for the prior consultation process for mining, energy and infrastructure projects.
Benchmark crude oil prices peaked in the week of June 14 to 20 and have fallen virtually every week since then.
The overall count increased to 24 this week, below recent and long-term averages but non-Armed Forces reported incidents declined. This means the increase was due to Army-related activity.
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