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USO claims Ecopetrol layoffs imminent

USO VP and communications secretary Edwin Palma warned media that Ecopetrol (NYSE:EC) will cut 2000 positions across the country, and that the NOC has already issued a voluntary separation plan to workers.

Monday, March 28th, 2016
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Echeverry to Reficar’s defense

Ecopetrol’s president Juan Carlos Echeverry offered a spirited defense of the Cartagena Refinery (Reficar) and its modernization at the recent Congress of the Colombian Natural Gas Association (Naturgas), highlighting that despite the bad press, the project moves forward and is nearly 100% operational.

Thursday, March 24th, 2016
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United for Ecopetrol campaign pounces on MinHacienda letter

A letter submitted to congress from the Finance Ministry (MinHacienda) detailing the government’s stake in Ecopetrol (NYSE:EC) and another 29 state owned firms sparked alarms form the recently launched “United for Ecopetrol” as proof the government plans to privatize the NOC. The ministry said it is a routine and legally mandated letter submitted each year.

Wednesday, March 23rd, 2016
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Clamor for Barranca Refinery continues

Unwavered by a formal decision to suspend the modernization of the Barrancabermeja Refinery by Ecopetrol (NYSE:EC), city authorities and unions continue to call for the project. The refinery management has denied rumors that it is currently unsafe and defended the NOC’s priorities.

Wednesday, March 23rd, 2016
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Pacific rumors fly, posts 2015 loss

Pacific rumors fly, posts 2015 loss

Pacific Exploration & Production (TSX:PRE) said that it grew production in 2015 but, like everyone else in the industry, impairment charges led it to post a loss of US$5.462B. A report in US financial media that the firm is reviewing buyer proposals has also fueled speculation on its future.

Monday, March 21st, 2016
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Canacol posts stellar reserve growth

Canacol posts stellar reserve growth

A bit of good news as Canacol Energy (TSX:CNE) posted a proved developed producing (PDP) reserve increase of 110%, and a 2P replacement rate of over 1000%.

Thursday, March 17th, 2016
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Ecopetrol condemns violent protests in Coveñas

Ecopetrol (NYSE:EC) says that a group of community members protesting a new hiring system –- an alternative to the notorious Community Action Committees (JACs) –- have turned violent and forced contingency measures at the Coveñas port.

Wednesday, March 16th, 2016
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Despite pressure, ECP formally suspends Barrancabermeja Refinery project

Although it has served as a lightning rod for government criticism in Barrancabermeja, Santander, Ecopetrol’s (NYSE:EC) board of directors gave a definitive suspension to plans to modernize the city’s refinery in the 2016-2020 strategic plan.

Tuesday, March 15th, 2016
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Cenit to look at pipeline rates?

Cenit to look at pipeline rates?

In Ecopetrol (NYSE:EC) 4Q15 results conference call, Cenit President Tomás Rueda revealed that the NOC is working with authorities on a new pipeline tariff scheme. That no doubt pleased his suffering clients.

Tuesday, March 15th, 2016
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Geopark results looking more Colombian

Geopark results looking more Colombian

Geopark (NYSE:GPK) reported production gains in its consolidated operation and in Colombia, which now accounts for 67% of its production, but saw a strong drop in revenues and posted a loss for 2015 due to the oil price.

Monday, March 14th, 2016
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