Ecopetrol (NYSE:EC) is considering building an additional regasification plant in order to protect against supply deficits that could affect the country starting in 2018.
After more than a month of protests from the Tesoro de Bubuy village in Aguazul, Casanare, oil operator Perenco has issued a statement to local media contesting allegations by protesters, which it says are merely a tool to obtain greater concessions from the company despite past agreements.
Canacol Energy (TSX: CNE) has reported its Fiscal Year 2014 results (ending June 2014), reporting growth in its proven reserves, production and turning around its bottom line.
Nearly four years after announcing the discovery, Ecopetrol (NYSE:EC) has received the environmental license it needs to start more drilling at its Mago-1 well location near Puerto Gaitan, Meta.
Senator Jorge Robledo, a vocal critic of the oil industry, has warned that there could be a possible conspiracy of fuel importers and multinational firms that want to keep the Barrancabermeja Refinery from being modernized.
Ecopetrol (NYSE:EC) has unveiled a processing center to offer greater capacity for seismic imaging, the facility is operational starting the beginning of the month and located in Bucaramanga.
Blockades of the La Cira Infantas field have prohibited access to the administration facilities and led the operators of the field to suspend six contracts, affecting 700 workers associated with the project.
Ecopetrol lived through “golden years” from 2007-2012 and now confronts not only a challenging operational scenario, but also questions affecting its potential moving forward.
While 2014 has proven to be a difficult year for Ecopetrol (NYSE:EC), its president Javier Gutiérrez says the company will return to its production goals in 2015 and produce a million barrels a day.
A decision on whether or not Ecopetrol will take over the production contract of the Rubiales field will not be made until the middle of 2015, and the president of Ecopetrol Javier Gutiérrez has told the Senate that the NOC is capable of operating the field on its own.
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