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Communities & CSR

Royalty Round-Up: DNP director continues touting new system, Casanare visit, Meta Approval, Do not interrupt

Criticism of the General Royalty System has not stopped the National Planning Department (DNP) director from promoting its impact and future, the head of the DNP royalties department visits to inspect projects in Casanare and a VP candidate lashes out at a event after receiving questions about the royalty issue. These stories in our roundup of royalty related events and reports.

Thursday, May 29th, 2014
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Oil producing departments look to public-private initiative to counteract lack of royalties

Through the Business Association for the Development of Orinoquia (Asorinoquia), regional government entities are looking to create public-private initiatives that would compensate for the lack of hydrocarbons royalties and finance needed infrastructure investments.

Wednesday, May 28th, 2014
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CSR Summary: ECP in Barrancabermeja, Parex Sports, Equion Sailing

Ecopetrol says that it has been busy in Barrancabermeja where it says it invests CoP$206B (US$107.4M) annually into Corporate Social Responsibility Projects (CSR). That and other CSR programs from Equion, Parex and more.

Tuesday, May 27th, 2014
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Caño Limon-Coveñas finally operational again

Repair work on the Caño Limon- Coveñas Pipeline has finally been completed after spending more than two months out of service after successive pipeline bombings and a conflict with the U´WA indigenous group that blocked repair crews.

Tuesday, May 27th, 2014
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USO will add end of outsourcing to Ecopetrol negotiations

The USO said that it will include the use of outsourced labor as an agenda item in the upcoming collective bargaining agreement process with Ecopetrol (NYSE:EC) and that the topic is already on the table in discussions in Cartagena.

Monday, May 26th, 2014
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Huila residents appeal to State Council to annul Las Ceibas contract

Members of the Civic Committee in Defense of the Las Ceibas Riverbasin will take their cause to the State Council in order to annul an E&P contract held by a subsidiary of Pacific Rubiales Energy (TSX:PRE), despite confirmations from the company and government that the E&P work will not go forward.

Thursday, May 22nd, 2014
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MinMinas: Producing regions losing out in royalty system

The reform of the system to distribute royalties from oil and mining have been detrimental to producing regions, forcing them to deal with the environmental and infrastructure issues create by the industries but without the benefit of royalty income, said the Minister of Mines and Energy Amylkar Acosta.

Wednesday, May 21st, 2014
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Ecopetrol contracting up 41% in Q1

Ecopetrol contracting up 41% in Q1

Ecopetrol (NYSE:EC) has released contracting figures for the first quarter of 2014, when the Company contracted 41% more in value terms compared to the same period last year. Bogotá based companies continue to have a greater share of the NOC contracts.

Wednesday, May 21st, 2014
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CSR Summary: Ecopetrol all over the place

Our list of corporate social responsibility projects (CSR) over the last two weeks has been dominated by Ecopetrol (NYSE:EC), who has made a splash in local press through a series of different initiatives and projects. A cynic would say, “it must be an election year”, an optimist, “good job”.

Tuesday, May 20th, 2014
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Casanare truckers sign understanding with only 10 of the 48 area oil companies

Following another round of talks in a process that have stretched for more than 2 years, involving departmental and national government intervention, 10 oil operators signed an agreement with a group of local transportation firms. The number pales in comparison to the 48 oil companies operating in the department, and the largest: Pacific Rubiales (TSX:PRE) and Ecopetrol (NYSE:EC) did not sign.

Monday, May 19th, 2014
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