Despite a constant message from the Ministry of Mines and Energy (MinMinas) that a rising price of biofuels has counteracted falling oil prices to keep fuel prices higher, the president of the biofuels association Fedebiocombustibles Jorge Bendeck says its more complicated than that, and increasing the mix would actually drop prices.
After royalty revenues dropped less than expected, Delegates of the National Federation of Departments met with the Minister of Finance to release royalty resources, meanwhile a new royalty spending transparency tool has been released. These and other stories in our periodic roundup.
The Superior Tribunal of Pasto (Nariño) has ruled in favor of a Putumayo based indigenous association (ACIMVIO) and ruled against a prior decision from Interior Ministry to not certify the presence of the Inga group in an area of influence for a Gran Tierra Energy (TSX:GTE) exploration project.
The USO claims workers have been pressured by anti-union forces in its attempt to negotiate entry to Pacific Rubiales Energy (TSX:PRE) through blackmail, and has taken to the international community to up pressure on authorities.
Another account has emerged of an oil services company that has had to file for bankruptcy reorganization, a trend which continues to flog the local industry.
Some US$1.4M has been allocated to the Putumayo Department for social projects, meanwhile the Tauramena municipality received a positive rating in its audit report of its use of royalties. These and other stories in our periodic roundup.
The Caquetá Planning Secretary Julián Carvajal Zamora said that officials from Emerald Energy did not attend a call to meet with affected communities before starting their exploration work, which he says is a needed step for an exploration and production license to be granted.
The USO lashed out at Ecopetrol president Juan Carlos Echeverry for the “first 100 horrible nights” and blamed him for Ecopetrol’s stock price dropping to the lowest point since entering the stock market which they claim are due to low market confidence in his projects.
At the end of the month Ecopetrol must submit designs for a metropolitan aqueduct that will serve the municipalities of Cúcuta, Villa del Rosario and Los Patios, meanwhile the state oil firm is investing in paving works in Guamal. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
Following a flare up of violence at the beginning of the month after riot police intervened to remove protesters blocking the entry of machines for an oil exploration program, Caquetá remains tense and defiant.
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