Gran Tierra Energy (TSX:GTE) said it has increased its 2015 Capex program by US$45M to US$185M for the year as part of a plan to accelerate development drilling in the Moqueta and Costayaco fields in the Putumayo Basin.
Ecopetrol (NYSE:EC) president Juan Carlos Echeverry said that the recent wave of attacks on oil infrastructure will not have a substantial impact on the finances of its transport firm Cenit, and confirmed plans are still in place to relinquish control of its smaller fields.
In the last two weeks three executive managers at Ecopetrol (NYSE:EC) have retired as the company’s president Juan Carlos Echeverry adjusts his team.
Surging costs associated with transportation, refining, social conflicts and licensing have made Ecopetrol’s (NYSE:EC) cost per barrel the second highest among state oil firms in Latina America, says a report from the Colombian Petroleum Association (ACP).
The new regional vice president for the Orinoquia region of Ecopetrol (NYSE:EC) Jose Cotello has already drawn a stir in local media after hosting a press trip in the Cupiagua gas plant, where he outlined changes under his watch and objectives for production.
The end of the unilateral cease fire from the Farc has put oil infrastructure back in the cross hairs of the guerrilla, with disastrous consequences for operators in the south of Colombia, in particular in Putumayo.
In a change of strategy the USO says it has direct workers with Pacific Rubiales (TSE:PRE) that have decided to affiliate themselves with the USO, and the union has submitted a list of demands.
Parex invested CoP$22.7B (US$9M) in sustainability projects in 2014 while Equión promotes farming in Yopal. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
With its change in strategy Ecopetrol (NYSE:EC) must become a “more international –Panamerican- and definitely more profitable”, especially to log new reserves says its president Juan Carlos Echeverry.
Pacific Rubiales (TSX:PRE) and Ecopetrol (NYSE:EC) are the only Colombia focused operators participating in the historic bidding round that will open the Mexican oil industry to private capital, which has advanced to the next stage.
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