Corporate Social Responsibility (CSR) projects have been hit hard by the fall in oil prices and the continued closure of wells and projects. In Santander authorities say over 2,500 jobs have been lost and in Casanare well closures spark concern. These and other CSR-related stories in our periodic summary.
The Constitutional Court Decision on projects and the prior consultation process in Orito Putumayo and Puerto Gaitán, Meta have put the legal certainty of extractive projects in limbo, and more decisions are expected.
Drawing parallels to the Cartagena Refinery, the USO has turned its attention to the delays and problems that have plagued the construction of an ethanol plant by Ecopetrol (NYSE:EC) subsidiary Bioenergy.
The General Controller Edgardo Maya Villazón released a report on the handling of royalty funds which included 134 “findings” which the entity considers a misuse of the funds, while a financial institutions industry association warned that the royalty system has not helped reduce the infrastructure gap. These and other royalty-related stories in our periodic roundup.
Communities in the area of influence of Ecopetrol (NYSE:EC) warn that the NOC is nearly their only strategic partner, paying for roads, infrastructure and social programs, and so they face an uncertain future as the NOC slashes its costs.
Confounded by the cuts in investment and exploration due to the fall in crude prices, Colombian services firms are looking outside of the hydrocarbons industry to find new clients.
USO delegates met with management from Cenit, the transportation spin-off of Ecopetrol (NYSE:EC) and warned that a plan to fold remaining transport assets into Cenit will make way for Cenit’s sale.
Pacific E&P (TSX:PRE) was the affected operator in another Constitutional Court decision regarding the prior consultation process and an indigenous group in Puerto Gaitán, Meta, which affects the operator’s operations in Quifa.
Oil companies in Colombia and beyond are starting to see a “significant” loss of labor talent, says a recently published study on the oil and gas labor market from global recruiter Hays.
Services firm Halliburton (NYSE:HAL) had selected a plot of land to build a waste treatment center, but recent zoning changes could put it at risk, despite having received a warm welcome from municipal authorities.
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