News and AnalysIs for

The government’s sale of its stake in electrical energy generator Isagen shows that its strategy of selling off important national assets is moving forward, says the USO, warning that Ecopetrol (NYSE:EC) will be the next on the list, so the union is calling for national protests.

While tankers are often the target of complaints from communities in oil producing regions, the ‘not in my backyard’ mentality is just as strong with pipelines, and the consequences of having the Transandino near the city of Tumaco, Nariño, clearly depicts why.

The service industry and members of the Colombian Chamber of Oil Goods and Services (Campetrol) have suffered over the last year, with 38 service firms filing for bankruptcy protection and 40,000 jobs lost. Its president Ruben Dario Lizarralde urged Ecopetrol (NYSE:EC) to continue exploring for the good of the country.

The National Planning Department has temporarily suspended royalty payments to 127 municipalities in 25 departments for not supplying information on the advance of royalty projects according to established timeframes. This and other stories on royalties in our periodic summary.

Casanare produces much oil and as a result, is also a focus for corporate social responsibility (CSR) projects, as well as repeated industry/community conflicts. To finish off 2015 and start the new year, we review a number of stories in our periodic summary.

The USO kicked off the new year by denouncing the policies of President Juan Manuel Santos and warned again that there are plans to hand over Ecopetrol’s (NYSE:EC) assets to private multinationals. A broad-scale national strike should be planned immediately, the union said.

For the first time, The National Planning Department (DNP) held an awards session to recognize the best use of royalty funds in an initiative called “Well Invested Royalties”, with top honors going to a governor and three mayors. This and other royalty related stories in our periodic summary.

Both Promigás and Ecopetrol (NYSE:EC) have received recognition for community programs and innovation, while the NOC says it has also successfully finished a number of Corporate Social Responsibility (CSR) programs in Huila and Nariño. These and other stories on CSR in our periodic summary.

The USO has taken up a new argument to criticize Ecopetrol (NYSE:EC), now accusing the NOC of weakening safety controls and covering up injuries and fatalities during the modernization process.

The latest controversy to hit the use of royalty funds: One of three contracts signed between 2012-2015 directly hired a contractor instead of using competitive processes.