Ecopetrol (NYSE: EC) wants to start recovering the lost reserves as soon as possible. CEO, Juan Carlos Echeverry, talked about the firms’ prospects for ill-starred block CPO-9.
There is uncertainty among companies about recent problems and challenges facing the Colombian oil sector. German Espinosa, President of the Colombian Chamber of Goods and Services (Campetrol) talked about this situation and gave his perspectives.
The Coveñas / Caño Limón pipeline, one of the main assets of the country to transport crude, continues to report problems from attacks and this is generating huge losses. Ecopetrol (NYSE: EC) commented on the status of this important pipeline.
The sector is facing a boom of popular referendums, which is creating legal uncertainty among investors. Germán Arce, MinMinas, spoke about the sector and its benefits for country and the department of Meta.
Colombia’s Central Bank (Banrep) released 1Q17 Foreign Direct Investment (FDI) figures for the country. This increased in the sector compared to same period last year, despite current legal uncertainty and social unrest.
The National Environmental Licensing Authority (ANLA) granted an environmental license to Ecopetrol (NYSE: EC) to develop offshore activities in front of La Guajira. The ANLA explained this decision.
Through a letter, the governor of La Guajira Weilder Guerra Curvelo, asked Juan Carlos Echeverry, CEO of Ecopetrol (NYSE: EC,) to link the department to the national economy.
After two years of adjustments to face the fall in oil prices, Ecopetrol (NYSE:EC) is ready to invest CoP$50T during the next 5 years.
Cities in the Colombian coast invited companies to their territories to set up their facilities to carry out offshore projects, and it seems that Barranquilla is wining this competition.
Ecopetrol (NYSE: EC) plans to recover the lost ground during the oil crisis. The company has big plans and investments to achieve it in the medium term.
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