News and AnalysIs for

The UTEN workers union which represents workers with Pacific Rubiales (TSX:PRE) has an uncertain future due to the decision of Ecopetrol (NYSE:EC) to not renew its association contract with the Canadian operator for the Rubiales Field.

A Casanare representative has challenged articles of the royalty reform law while the National Planning Department (DNP) has suspended payments to 106 municipalities who have not reported their royalty use. These and other stories in our routine round up.

The USO welcomed the decision of Ecopetrol (NYSE:EC) to not renew the Rubiales Field association contract with Pacific Rubiales (TSX:PRE) saying that it was a result of years of social and political pressure. But the union was clear that it is just the first step.

The Colombia Chamber of Oil Goods & Services (Campetrol) estimates that as many as 15,000 workers with oil contractors have lost their jobs thus far due to the fall in oil prices, and that the cuts will likely continue.

Ecopetrol (NYSE:EC) says it has a contingency workforce and that a strike by the USO oil workers union would be illegal and could lead to dismissals. Meanwhile the union is preparing a 24 hours strike for March 19, which could be expanded into an indefinite one.

Nunchía authorities agreed to expedite the disbursement of CoP$1B (US$380,000) for electrification and gas coverage expansion from the Bicentennial Pipeline while the ANH and UN Development Program have started workshops to improve community relationships with the industry. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.

The Casanare administrative court will inspect Mate Marrano wetlands after The National Environmental Licensing Agency (ANLA) did not show for a hearing, and authorities say that thus far Paz de Ariporo is not suffering from drought conditions like last year. These and other environmental stories in our periodic summary.

With the naming of former Santos Finance Minister Juan Carlos Echeverry as the new president of Ecopetrol (NYSE:EC), the government planning to convert the NOC into a handy cash box to meet its immediate needs warned USO president Edwin Castaño.

A report of the Agustín Codazzi Geographical Institute (IGAC), which oversees political and land borders says there are 84 “questionable borders”, many of them falling in producing regions. Of these 20 will be prioritized in 2015 for clarification.

Companies from Meta and Casanare associated with the oil & gas industry are working with an initiative of the commercial vendors association Fenalco’s Meta chapter to consolidate an Orinoquia-based cluster to better integrate this industry.