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Colombia tops Hays annual oil and gas salary survey

Colombia tops Hays annual oil and gas salary survey

The annual study by global recruiting firm Hays is always hotly anticipated. We had already tweeted the topline result but here are the details. Required reading for HR professionals and senior managers.

Wednesday, April 16th, 2014
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Ecopetrol forms “Supplier’s University”

In order to offer current and potential suppliers an updated panorama into different aspects of the oil industry Ecopetrol has agreed with The University of Bogotá Jorge Tadeo Lozano to create a “Supplier’s University”, and will subsidize the cost during the first stage of the project.

Tuesday, April 15th, 2014
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Cenit celebrates its first year

Ecopetrol’s (NYSE:EC) transport and logistics spinoff Cenit has celebrated its first year of operations, and hailed the completion of the Bicentennial Pipeline as the highlight for this first year.

Monday, April 7th, 2014
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Benchmarking royalty rates 4Q13

Benchmarking royalty rates 4Q13

Excluding the ‘Additional Participation’ aka ‘Factor X’, average royalty rates in Colombia declined from 16.3% in 4Q12 to 15.5% in 4Q13, reflecting the slow shift in production from Traditional contracts to production from E&P Contracts, and from mature fields to newer fields with lower rates. But the graph shows there is considerable variation around the average.

Thursday, April 3rd, 2014
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ECP, Infrastructure Chamber form Alliance around infrastructure investments

With an eye on the nearly US$10.6B that Ecopetrol has to invest over 2014 in different aspects of its business, the Colombian Chamber of Infrastructure (CCI) has formed an alliance with the NOC to ensure the hydrocarbons investment plan brings benefits for the sector and oil producer alike.

Wednesday, April 2nd, 2014
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ISA looks to enter Pacific Pipeline project

Colombia state owned electrical transmission company Interconexcion Electrica (ISA) is looking to acquire 5% participation of the Pacific Pipeline as part of a new business venture.

Tuesday, April 1st, 2014
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As gas industry grows, TGI spreads the wealth

The board of directors of Gas transport firm TGI agreed to pay out 100% of the company’s profits from last year to shareholders, spreading the profits from financial consolidation as the company harnesses the growing gas market.

Monday, March 31st, 2014
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Ecopetrol invests US$26.4M into emissions control for Barrancabermeja Refinery

Investments to meet emissions standards set by the Ministry of Environment and Sustainable development have amounted to a CoP52B (US$26.4M) investment into Ecopetrol’s refinery business, only considering the Barrancabermeja Refinery.

Wednesday, March 26th, 2014
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How will Ecopetrol achieve its ‘Mega’?

How will Ecopetrol achieve its ‘Mega’?

As Ecopetrol (NYSE:EC) shareholders go into today’s Annual Meeting they will probably be concerned about the dividend. They may be calmer than they might have been about the share price since it is up nearly US$5 from late February although still below where it closed at the end of 2013. They might complain about the refinery business. We think they should ask questions about growth.

Tuesday, March 25th, 2014
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Parex looks to convince on former Cepcolsa project

Parex has held a press conference with local media outlets and looks to convince the local community that its plan to drill exploration wells in the Tinije Lagoon will be more environmentally safe than Spain’s Cepcolsa, who abandoned the project after community pressure.

Tuesday, March 25th, 2014
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