Ecopetrol’s (NYSE:EC) CEO, Felipe Bayon, seems confident on the development of new fracking projects in Colombia, despite the current controversy about the topic.
The oil sector has been announcing agreements and alliances in recent weeks with the aim of reactivating the exploratory activity in the country. Ecopetrol (NYSE: EC) and Repsol (MSE: REP) will develop a new offshore project in the Caribean coast.
Ecopetrol (NYSE: EC) has reported good financial performance in recent years, generating expectations about new investment in oil projects in the country. Felipe Bayón, CEO of ECP, spoke about key issues such as dividends, cash generation, and the firm plans in coming years.
A few weeks ago, the Colombian government, through the Ministry of Finance (MinHacienda), proposed selling part of the country’s shares in Ecopetrol (NYSE: EC). Experts and government representatives continue to discuss this alternative.
The development of pilot fracking projects has generated much discussions in the country. Ecopetrol (NYSE: EC) is continuing to prepare for these projects and announced a new organization specialized in these issues.
Ecopetrol (NYSE:EC) was able to start clean up activities in Teorama (Norte de Santander), after authorities reported another attack on Coveñas Caño Limon (CCL). The development of these and more stories in our periodic Eco summary.