The USO claims that Ecopetrol (NYSE:EC) has been misleading the value and potential of its assets so it can justify privatizing them, pointing out that multinationals have taken over fields with poor production and managed to improve them.
Geologists have felt the strongest impact from the fall in oil prices as companies slash their investments in drilling and exploration, but there are still some niches that remain in high demand in Colombia.
Ecopetrol invests in improving educational infrastructure in Casanare, meanwhile the firm also promises the construction of a college campus in Granada. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
The twisted system which dictates local hiring in Meta for oil projects is getting more attention, and a local paper says that the murder of community leader Edith Santos just over a year ago has helped unveil the dark process and its benefactors.
In its latest accusation against Pacific E&P (TSX:PRE), the USO claims the firm has been actively campaigning to block its workers from joining the union ranks, and so will take legal action against the operator.
A combination of low oil price and attacks on oil infrastructure around the Tibú Municipality in Norte de Santander has led to accusations of mass closures by Ecopetrol that have affected around 1000 workers.
As the Cartagena Refinery (Reficar) shows signs of operational life after a long delayed modernization project and appears ready to launch, the USO has started to voice its “reservations” on the project, its operators and alleged health consequences for workers.
The Senate’s Sixth Commission held a debate on the legal framework for oil companies regarding roads, and said that the current laws for rural backroads are not doing enough to serve the community in producing regions.
A Cienega municipality administrator says Comptroller findings reflect administrative errors not funds misuse, meanwhile The Ministry of Mines and Energy (MinMinas) is allocating CoP$9B (US$3M) to incentivize production. These and other stories in our periodic roundup.
The USO’s ongoing collective bargaining with Petrosantander had been described with a more amicable tone in past statements by the union, but apparently there was not enough common ground to reach an agreement, as the negotiation processes closes without an accord.
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