We are only publishing Ecopetrol’s (NYSE:EC) overall results today but we thought we would get a jump on the analysis by publishing the NOC’s Line of Business results simultaneously.
The Colombian oil sector faced tough times due to low oil prices and social conflict, but the industry managed to overcome this challenges and it is recovering lost ground. The Ministry of Mines and Energy (MinMinas) and the National Hydrocarbons Agency (ANH) reported Colombia oil reserves in 2017, with positive results.
Last week the United Nations mission of environmental experts published its preliminary report on the La Lizama well, giving the ‘scandal’ another mediatic bump. This may be the last such flurry for a while, but the industry will be paying the consequences for some time.
The Awá indigenous communities sued Ecopetrol (NYSE: EC) before Cundinamarca’s Administrative Tribunal, arguing an alleged violation of their fundamental rights.
The Inspector General’s Office started an investigation for alleged irregularities in the handling of foreign resources to be allocated in the post-conflict process. These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
The environmental emergency in La Lizama generated changes, including, according to the press, potential impacts on the development of Ecopetrol’s (NYSE: EC) pilot project for fracking.
The attack took place in the San Francisco village, municipality of Ricaurte (Nariño).
The NOC spoke about the changes it made in its infrastructure, after the criticism it received for the environmental emergency at La Lizama.
The National Environmental Licensing Authority (ANLA) made a decision on Ecopetrol’s (NYSE: ECP) proposal to carry out a fracking pilot in Colombia.
The oil spill in La Fortuna in the department of Barrancabermeja generated a lot of controversy and debate in the Colombian media. Felipe Bayón, CEO of Ecopetrol (NYSE: ECP) spoke about this situation in an interview.
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