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.
The NOC’s management said that it will finance infrastructure projects while simultaneously working on closing educational gaps.
Since we started Hydrocarbons Colombia, we have reported on a number of good-sized scandals, ones that have lasted more than a couple of days. The latest is the escape of oil from the La Lizama well. This one could have more profound impacts on the industry than any previous media circus.
Canacol Energy (TSX: CNE) announced its financial and operational results for the three months and year ended 2017. Average production increased in 2017, but it decreased in 4Q17. The firm reported a net loss during last year due mainly to non-cash asset impairment charges.
Ecopetrol (NYSE: ECP) announced its plans for the period 2018-2020 period in the congress of the Colombian Natural Gas Association (Naturgas).
CEO Felipe Bayón spoke about the NOC’s contingency plan to face the environmental emergency that took place in Barrancabermeja, after an accident in the Lizama well.
Ecopetrol (NYSE:EC) is unique among Colombia-focused operators for many reasons but one is that it is the country’s only integrated oil company, lacking just retail distribution for it to cover the entire value chain. Luckily, the NOC publishes results by Line of Business (LoB) that allow us to understand what is happening below the top-line.
The Ministry of Environment (MinAmbiente) announced that it is finalizing the rules for the development of this technique in Colombia.
The NOC is working on improved recovery programs to continue increasing its proven reserves.
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