Following the announcement of Gorgon, “the biggest gas discovery found in Colombian territory in the last 28 years”, Juan Carlos Echeverry, CEO of Ecopetrol (NYSE: CE) said that despite the fall in oil prices, Ecopetrol’s initial plans are still going strong.
Pacific Exploration & Production (TSX: PEN) reported its 1Q17 results highlighting that it is on the right path to improve the firm´s performance. Pacific net production increased compared to previous quarter.
Ecopetrol (NYSE:EC) announced “the largest gas discovery found in the last 28 years in Colombian territory,” but the announcement just might be larger than the importance of the discovery itself.
The Secretary of Finance of Barrancabermeja in an inspection process found some irregularities in Ecopetrol’stax return (NYSE: EC) during 2014 and 2015.
The country has been waiting for offshore exploration results with optimism. Ecopetrol (NYSE: EC) announced the first big finding of the offshore exploration campaign.
The topic of the year so far is gas. EPM is the second largest gas distributor in Colombia. Carlos Arturo Diaz, Vice President of Gas at EPM, spoke about goals and challenges for this year.
Last year was difficult for the sector because of the continued oil price decline. The industry had to adapt to this environment and learn to operate with the lowest price in 12 years.
Attorney General Nestor Humberto Martinez said that the first indictments for the Reficar case are ready. He called the ‘scandal’ “the biggest misappropriation of public funds in the history of Colombia.”
Ecopetrol (NYSE: EC) wants recover the ground lost by the oil crisis. To achieve this, the NOC has big plans around Colombia. The department of Huila will have several projects this year.
Canacol Energy Ltda (TSX: CNE) announced an agreement to a 50% farm-in with Pacific Exploration and Production (TSX: PEN) for a gas block near its other properties.
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