The growing demand for diesel and Colombia’s environmental requirements for the fuel, paired with a limited internal capacity of Ecopetrol (NYSE:EC) to produce this fuel could mean an increase of imports of the fuel by 7.4% in 2014.
The USO has said that it has presented a new list of terms to Ecopetrol (NYSE:EC) which surround a number of policy changes and increased benefits, stances on several environmental issues, and will hold a vote among USO affiliated workers with the NOC on April 25, 2014, in order to demand a new collective bargaining agreement.
Editor’s note: This version of the story clarifies that Gran Tierra Energy had indeed issued a press release to certain local media outlets informing that the suspension of trucks would be a temporary arrangement after HCC received the full release from the company.
The public hearing to grant the environmental license for the Llanos 10 exploratory drilling project came to a close, and with no fanfare, or public condemnation of the project, authorities or grandiose accusations.
Downstream Demand and PricingWTI has been rising steadily all quarter and while Brent has had more ups and downs, these have all been in a tight band around the long term average.
The Colombian government will move forward on its section of pipeline that is slated to connect to neighboring Venezuelan and reach the Pacific coast in Colombia, a project designed to increase access to the Asian markets for both countries. Delays from the Venezuelan NOC, PDVSA, have led Colombian authorities to jump start the program alone.
The Ministry of Mines and Energy and the infrastructure unit of Pacific Rubiales Energy (TSX:PRE) have penned the concession contract to build the Olecar Pipeline, another attempt to mitigate the complicated logistical scenario of sending crude to ports in tankers.
Last Sunday Colombia voted in a new round of congressional leadership, and ex-President Alvaro Uribe picked up a Senate seat, giving the vocal opponent of the peace process a much large venue to voice his opinions than his usual tweets.
GasThe Ministry of Mines and Energy (MinMins) cast away any shadow of doubt that the regasification plant contract that has faced scrutiny in the local press is anything short of a sure thing.
Peru’s Mines and Energy Eleodoro Mayorga has announced that the government will eliminate the requirement for environmental impact studies for seismic exploration to encourage investment, a move that could mean more interest in the Andean country over the complexities of seismic exploration in Colombia.
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