The Colombian oil sector has had a 2019 with much positive news in terms of exploration. Some offshore blocks are going to change their contract type, and Occidental Petroleum Company (NYSE: OXY) is thought to have big plans for this segment.
Barrancabermeja’s Mayoralty and Ecopetrol’s (NYSE:EC) management confirmed that the NOC’s plan to bring gas to the municipality’s rural areas is on its way. These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
Promigas is building a pipeline for Canacol Energy (TSX: CNE) and this project is progressing quickly. Promigas representatives spoke about the second stage of this important project and its possible delivery date.
The Colombian government implemented the “Works for Taxes” strategy to allow companies to pay taxes through projects in their areas of influence. Authorities announced the projects for this year and the committed investment.
The National Development Plan (PND) states that the government can sell its shares in public companies, as a way to cover the fiscal gap. As controversial as it is, selling part of the NOC’s shares is on top of the authorities’ list.
Geopark Limited (NYSE: GPRK) announced its financial results for the three-month period ended March 2019. The company reported continuing operational success during the first quarter of the year and excellent financial results.