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Ecopetrol (NYSE: EC) announced the opening of a new training center for the sector. The NOC is working together with the Colombian Chamber of Goods and Oil Services (Campetrol), Latin America Drilling Safety (Lads), OEI and the Sena (Colombia’s national vocational training institute) in this project.

Ecopetrol (NYSE: EC) and the Industrial University of Santander (UIS) are working on a molecular biology project to solve oil industry problems.

The International Energy Agency (IEA) made an important decision about Ecopetrol (NYSE: EC), benefiting the company and the country. The IEA took that decision at the annual enhanced oil recovery (EOR) meeting in the Riviera Maya, Mexico.

In recent years, Ecopetrol (NYSE: EC) has followed an austerity strategy to deal with the oil price crisis. The company committed to reactivate investment this year with heavy spending, but the firm is reducing its budget compared to initial plans.

Ecopetrol (NYSE: EC) has to deal with several problems to operate in the country such as attacks against infrastructure, oil theft, social unrest and popular referendums, among other. However, Felipe Bayón, CEO of ECP, is optimistic about the performance for this year, especially in terms of production.

Felipe Bayón, new CEO of Ecopetrol (NYSE: EC), spoke at the Colombian Petroleum Association’s (ACP) congress. The manager referred to the company’s performance and its plans.

The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for August. This metric keeps its positive performance, despite operating challenges in the country.

The Minister of Finance and Public Credit, Mauricio Cárdenas, assigned a first challenge to Ecopetrol’s (NYSE:EC) new president, Felipe Bayón, who took office last Friday.

The Colombian oil sector is facing many challenges and problems in the country. There is much concern about the industry’s future and several oil associations have joined forces to create a committee to boost the sector.

Communities have protested and made blockades in the municipality of Guamal (Meta) for the development of the exploratory project Trogón-1 of Ecopetrol (NYSE: EC). Authorities were present in the area to control the situation.