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.
The USO said that it has aligned with other social and political organizations for a “Grand National Civic Strike” on March 17.
Local authorities, unión leaders and sympathetic lawmakers have convened to call on the national government to declare a state of economic emergency in Barrancabermeja and to write a strategic Conpes document, looking at Ecopetrol (NYSE:EC) to compensate for canceling its plan to modernize the local refinery.
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