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Eye on Ecopetrol

After Rubiales, ECP reviewing more association contracts

Ecopetrol (NYSE:EC) continues to analyze its association contracts which are about to expire, and says that if it bolsters the company’s financial standing, it could repeat its decision made at the Rubiales-Piri and revert contracts. Around 45 association contracts between 2015-2041 could be reviewed.

Monday, November 9th, 2015
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USO sets its sights on Echeverry

Emboldened by the recent decision for Ecopetrol (NYSE:EC) to directly operate the Rubiales field, the USO has now taken direct issue with the NOC president Juan Carlos Echeverry, who the union claims is dismantling the company to be privatized and targeting workers in favor of multinationals.

Monday, November 9th, 2015
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Progress at Reficar, but what about Bioenergy’s refinery?

Ecopetrol’s (NYSE:EC) Cartagena Refinery (Reficar) has shown recent, serious advances, but there is little good news from another problematic refinery construction, this one an ethanol plant from the NOC’s biofuels subsidiary, Bioenergy. And critics ask whether the mistakes continue.

Tuesday, November 3rd, 2015
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More details on Rubiales decision

Ecopetrol (NYSE:EC) says it will continue to collaborate with Pacific E&P (TSX:PRE) following the reversion of the Rubiales field, and the option of integrating Rubiales with its operation in Castilla and Chichimene weighed in the decision to operate the largest producing field in Colombia directly.

Monday, November 2nd, 2015
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Ecopetrol will operate Rubiales

Ecopetrol will operate Rubiales

Ecopetrol (NYSE:EC) has finally made a decision on the future of the Rubiales field, and says that it will directly operate the field once its association contract with Pacific E&P (TSX:PRE) ends in June of next year.

Tuesday, October 27th, 2015
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Reficar finally in motion

President Juan Manuel Santos was on hand to receive the first shipment of crude destined for the modernized Cartagena Refinery (Reficar), with full capacity expected for the first half of next year.

Monday, October 26th, 2015
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What overruns?

A bit of spin is to be expected when government officials address strategic projects, but Minister of Finance Mauricio Cárdenas took it to a surprising level and asserted that the Cartagena Refinery really did not have overruns, rather its high cost was the fault of Glencore’s poor estimations in 2006.

Monday, October 26th, 2015
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CSR Summary: Ecopetrol invests in education infrastructure

Ecopetrol invests in improving educational infrastructure in Casanare, meanwhile the firm also promises the construction of a college campus in Granada. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.

Tuesday, October 20th, 2015
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Attracting and maintaining investment the challenge, says Echeverry

Ecopetrol (NYSE:EC) president Juan Carlos Echeverry believes the main challenge of Colombia’s oil industry is to attract and maintain investment. And he stuck to the government’s game plan: that the best way to do this is through achieving peace, not lowering taxes on companies.

Tuesday, October 20th, 2015
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Despite interest, no Brazil bid from ECP

Ecopetrol (NYSE:EC) has been emphasizing its opportunities outside of Colombia and the president of its Brazilian unit, Joao Guilherme Clark said just ahead of the block auction last week it was interested in growing its participation in E&P blocks, but in the end made no bid to do so.

Wednesday, October 14th, 2015
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