News and AnalysIs for

Ecopetrol (NYSE:EC) had set a production target of 819,000boed for 2014, but with its average after three quarters sitting at 754,800boed, the NOC will almost certainly fall short of its goal.

The UTEN Hidrocarburos union, which accounts for the ranks of Pacific Rubiales (NYSE:EC), has marked three years of peaceful relations with the company and community in Colombia’s largest oil field, Rubiales.

The president of the Chamber of Oil Goods and Services (Campetrol) Rubén Darío Lizarralde called on the national government to maintain a policy of constant development with the oil industry, in order to keep building and strengthening the sector as a strategic economic pillar.

The count increased to 35 this week, exactly the recent and long-term average. Guerrilla-initiated activity increased sharply and Arauca returned to prominence.

In Casanare transportation companies have formed a group of committees to better organize the industry, in Huila accidents and congestion due to tankers have declined while road and bridge repairs took place in Casanare, Boyacá and Norte de Santander.

Parex Resources (TSX:PXT) posted production and financial gains, growing production 27% sequentially, while revenues increased 24.9%.

GasA recent congress for energy wholesalers in Cartagena served to take yet another look at the burning questions facing the natural gas industry of whether or not there is sufficient supply of the resource in the midterm.

A proposed bill to make modifications to the two year old royalty system has provoked responses from a number of Senators who are demanding the changes, and accusations from others that recent promises from the central government have already been cast aside.

USO Meta vice president Dario Cárdenas has been absolved of charges against him and released from prison a year and three days after being arrested for crimes associated with protests in Puerto Gaitán, Meta.

Another quarter passes, and still no decision from Ecopetrol (NYSE:EC) on the future of the Rubiales field. Meanwhile political pressure from an alliance led by the oil workers union (USO) and Senator Jorge Robledo mounts to return the field to Ecopetrol control.