After widespread coverage of the drought in Casanare paired with accusations that oil production is causing it, the USO has come out and said that its work with the local community in Arauca could prevent the same tragedy from happening there as well.
The board of directors of Gas transport firm TGI agreed to pay out 100% of the company’s profits from last year to shareholders, spreading the profits from financial consolidation as the company harnesses the growing gas market.
Incidents near areas of interest to the oil and gas industry were up to 37, below recent but still above long-term averages. Non-Armed-Forces-reported incidents were above average both in percentage and absolute terms. This is our indicator of increased guerrilla-initiated activity. Our 4-week Moving Average incident count was down at 40.3 and the 52 week average was up slightly at 31.1 incidents per week.
Peru’s NOC Petroperú has announced it will float 49% of its shares to public markets, opening the state run firm to private capital. What lessons are in this for Ecopetrol (NYSE:EC)?
The Colombian Minister of Mines and Energy, Amylkar Acosta, heralded an optimistic view for 2014, saying that not only are investors continuing to believe in Colombia’s potential, but also a potential record of exploratory wells, some 240, will be drilled this year.
With few changes to the deadlocked peace talks in Havana, the ongoing conflict in departments like Arauca overshadowed any bits of progress, despite an assurance from President Juan Manuel Santos that the talks are now at a mature state.
ProductionE&P contracts have been available since the establishment of the National Hydrocarbons Agency (ANH). They were designed to attract other investors / E&P companies to increase reserves and production.
Investments to meet emissions standards set by the Ministry of Environment and Sustainable development have amounted to a CoP52B (US$26.4M) investment into Ecopetrol’s refinery business, only considering the Barrancabermeja Refinery.
As the date to announce fixed fuel prices for April approaches, pressure has increased on the national government to lower fuel prices, while the Minister of Mines and Energy Amylkar Acosta insists that the public should not be expecting further cuts.
School is back in session for 2014 providing an opportunity for oil producers to give school supplies to communities in their area of influence, while another program looks to encourage environmental protection at the village committee level. These and other Corporate Social Responsibility (CSR) stories.
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