News and AnalysIs for

The executive director of the National Federation of Departments, Amylkar Acosta supported calls from the Colombian Petroleum Association (ACP) to President Juan Manuel Santos to reform the General Royalty System, and said it would contribute to neutralizing growing social conflict. This and other royalty related stories in our periodic summary.

Despite the loss of the ‘yes’ vote the USO said it continues to support the peace agreement said that process cannot be undone. The union also called for a “spirit of reconciliation” from the supporters of ‘no’.

The Inspector General’s office issued a statement on the growing trend of public referendums to reject hydrocarbons production at the municipal level, and said that these are costly, the competence of the state and affect investment for social and economic development.

Ecopetrol (NYSE:EC) will start its Rubiales field drilling campaign this month with 72 wells planned for the country’s largest producing and recently reverted field.

The Colombian Association of Oil Engineers (ACIPET) signed eight cooperation agreements to enhance labor opportunities for its members, and handed out awards during its 2^nd Innovation and Entrepreneurship Fair.

HCC attended the ANH’s 3^rd Knowledge Fair: An experience for transforming conflicts and building peace, where community leaders discussed the agency’s territorial strategy. This initiative seeks to encourage ” territorial development and peace building where the industry operates”.

The USO said that it will not accept under any terms Ecopetrol’s (NYSE:EC) plan to outsource its health services, and said it has come up with a proposal to strengthen and improve the current system.

President Juan Manuel Santos and Farc commander Rodrigo Londoño alias ‘Timochenko’ signed the peace agreement in a historic session in Cartagena. Now the deal must be approved in a crucial plebiscite this Sunday, October 2^nd.

Colombia’s most public (potential) unconventional project, still in its early exploration phase, has been suspended by ConocoPhillips (NYSE:COP) due to a series of blockades in the VMM3 block.

We thought it would be useful for others to read the complete text of ConocoPhilllips (NYSE:COP) statement on the tense situation in San Martin, Cesar. It lays out clearly what the company has done, what the ANH and MinMinas have done, the blockades that arose despite this effort and what the company’s reaction is to the blockades.