Francisco José Lloreda, president of the Colombian Petroleum Association (ACP) said that exploration should be encouraged, and for this to happen it is essential to overcome legal uncertainty.
Ecopetrol (NYSE: EC) has big plans for the Gulf of Mexico; the Company participated in Round 2.1 and won two blocks. The company has high expectations for the results of its projects in Mexico.
Colombia wants to leverage the navigability of the Magadalena River but authorities expect large investments will be needed to achieve it. Ecopetrol (NYSE: EC) and Cormagdalena announced an agreement to invest in this important river.
Concerns in the private sector are growing because of recent popular referendums against mining and oil projects in the country. Several municipalities have announced their intention to carry out popular consultations that could affect the development of the mining and oil sector.
Colombia is not an oil country, but the crude industry is one of the most important for the economy. The Superintendent of Companies published a report of the companies with the highest operational revenues in 2016 and oil companies stand out in this list.
The Colombian Petroleum Institute (ICP) is the main research center of the industry in the country. ICP announced investments to support Ecopetrol’s 2017-2020 business plan (NYSE: EC).
Ecopetrol (NYSE: EC) wants to start recovering the reserves lost because of the oil crisis and low exploration in recent years. The company has high expectations for two wells.
As of August, the NOC’s tanker trucks will not be able to enter directly into the city and Ecopetrol (NYSE: EC) will have to search for an alternative route.
Ecopetrol (NYSE: EC) announced progress at the Bioenergy plant, the largest ethanol production complex in the country. The company said the ethanol-marketing phase began.
The oil industry is facing difficult times, but this sector has an important role in the Colombian economy and in the State’s income. Ecopetrol (NYSE: EC), the main player in this industry, is vital to Colombian finances.
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