Ecopetrol’s (NYSE:EC) transportation spin off Cenit will not move forward with plans to develop the second and third stage of the Bicentennial Pipeline as the company must cut its budget for large projects in the wake of the falling price of oil.
Ecopetrol (NYSE:EC) president Javier Gutiérrez made a visit to the Meta Department and discussed the NOC’s presence in the region, touching on local hiring, fracking use and production.
The Chamber of Oil Goods and Services (Campetrol) will launch a platform that will allow individuals to denounce instances of corruption in the oil sector, part of its effort to combat unfair practices and increase transparency.
The Ministry of Transportation and national police have announced restrictions of heavy vehicles on 44 different highways in Cudinamarca, Tolima, Santander, Quindío and Meta during December and the holiday season.
Regional governors, industry associations and congressional leaders have sounded the alarms on rate increases on natural gas that are planned for the Caribbean coast for 2015. Critics say the rise will amount to a 25% increase and effect both thermal generators and home consumers.
Security and Public OrderThe count increased to 41 this week, at recent and above long-term averages.
Colombians will not see a drop in prices at the pump for gasoline and diesel since politicians will tack on excess taxes to compete for lost oil fiscal revenue, which the union says is illegal.
With only days before the next meeting of Ecopetrol’s (NYSE:EC) board of directors, rumors abound that current president Javier Gutiérrez is on his way out, but who would replace him?
The Colombian Petroleum Association (ACP) broke ranks with other business association on an ongoing negotiation on tax reforms over the impact of the CREE surcharge, which ACP president Francisco Lloreda said will lead to a long term impact on E&P activities.
2026, Hydrocarbons Colombia, All Rights Reserved.
