Ecopetrol (NYSE:EC) was responsible for more than half of the research and development projects certified by state innovation and research agency Colciencias to obtain tax benefits in 2013.
Strikes, blockades and demonstrations flared up this week in different parts of the country and sectors, all supporting a wide variety of causes, but with one central target: the oil industry.
Parallel to the process to receive victims of Colombia’s long standing armed conflict, Farc and government peace delegates have agreed to form a sub-commission that will approach the idea of a definitive bilateral cease fire.
Gran Tierra Energy (TSX:GTE) say its overall production fall by 8% sequentially and 9% yearly to reach 20,121boed in the second quarter of 2014, after a protracted sales cycle for a new customer and pipeline disruptions in Colombia accounted for a drop of 1,293boed.
GasAfter a meeting between Colombian President Juan Manuel Santos and his Venezuelan counterpart Nicolas Maduro, authorities announced that Venezuela will extend its contract to import Colombian natural gas for another year to July 2015.
The General Controller’s office has issued a report that blames a number of manmade influences, including oil production, livestock and rice plantations, for the Casanare drought earlier this year, but singled out seismic activity and the drilling of wells as the main responsible action for the drought.
Ecopetrol (NYSE:EC) says violence and terrorist attacks in Catatumbo have forced it to move its office in the Convención municipality, despite the pleas of residents to stay.
Parex Resources (TSX:PXT) continues to grow its production organically and through acquisitions, and in the second quarter of 2014 posted an 8% increase sequentially and 29% increase year-over-year to reach 19,876bd.
The National Planning Department and other authorizes have organized an expo for regional entities on the royalty system, while Meta finally has its OCAD review. Producing regions might not like the new royalty system, but other regions, such as Sabana de Torres, Santander, have used it to their advantage. These and other stories in our routine round-up of royalty related stories.
The National Environmental Licensing Authority (ANLA) has placed restrictions on the disposal of produced water from the Rubiales field into a waterway with the same name, citing the environmental risk for the area surrounding Pacific Rubiales (TSX:PRE) namesake, and largest producing field.
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