Ecopetrol (NYSE:EC) is now set to receive the Rubiales field at the end of the month, and has also established its workforce which will staff and operate the field.
A question from a subscriber – what is Colombia’s internal demand for crude? – provoked a top-of-mind answer, which is often not the correct answer. We were close but the graph shows the big numbers and the trend.
Ecopetrol (NYSE:EC) is passing through a test due to fallen production and low prices, says the former Minister of Mines and Energy Amylkar Acosta, who believes that the NOC will be able to make it through, but without any idea of when this could conclude.
The scandal surrounding the Cartagena Refinery (Reficar) might have fallen to a secondary status, but continues to make headlines. A Senate hearing last month, accusations of environmental damage and a full audit by the General Controller’s office have all taken shape over recent weeks.
Ecopetrol’s (NYSE:EC) export distribution in 1Q16 showed a big shift to the US, the Gulf Coast in particular, and away from the Far East, which had been a strategic market for the NOC.
Ecopetrol (NYSE:EC) is set to receive the Cusiana field from Equion on July 4th, and is in talks with the local community to identify social priorities which are aligned with the project.
Ecopetrol (NYSE:EC) has signed an agreement with communities which affected its production in Chichimene, in the Acacías and Castilla la Nueva Municipalities, but reports show a willful criminal activity behind the protests, which could flare up again.
Juan Carlos Echeverry, Ecopetrol’s (NYSE:E) president, said in an interview that the NOC has been going through a deep cultural change prompted by the fall in oil prices. Local hiring, community relations, the ability to “sacrifice barrels” and environmental matters are some of the areas affected.
Ecopetrol is working “intensely” to prepare for the reversion of the Rubiales field from Pacific E&P, as well as the Cusiana field from Equión. Workers currently at the Rubiales field say they are confident the NOC will hire them under the new contract.
Ecopetrol (NYSE:EC) has started executing an exploratory campaign using a Vibroseis truck in three different municipalities in the Caquetá department, and promised both work and investment for the local population.