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With its change in strategy Ecopetrol (NYSE:EC) must become a “more international –Panamerican- and definitely more profitable”, especially to log new reserves says its president Juan Carlos Echeverry.

Pacific Rubiales (TSX:PRE) and Ecopetrol (NYSE:EC) are the only Colombia focused operators participating in the historic bidding round that will open the Mexican oil industry to private capital, which has advanced to the next stage.

The flare in violence following the end of the Farc’s supposed unilateral cease fire has put pipelines and oil infrastructure back in the crosshairs of guerrilla groups. It could not come at a worse time for Ecopetrol (NYSE:EC) which will see its costs rise and production fall as a result.

Ecopetrol (NYSE:EC) has offered more details on its new exploration strategy through 2030, which looks to reestablish its exploratory success and replace its shrinking supply of reserves.

Ecopetrol (NYSE:EC) has concluded an inspection of submarine pipelines in the Coveñas port, which will connect exportable crude from the land terminal to loading boats at sea.

The president of the USO oil workers union Edwin Castaño said that the “reinvention” of Ecopetrol (NYSE:EC) announced by the NOC’s new president Juan Carlos Echeverry is misguided and instead it should focus on directly operating all of its smaller fields.

As part of its new strategy, Ecopetrol (NYSE:EC) is planning to focus on its larger producing blocks and implement a divestment plan for at least 45 of its smaller fields.

After statements made by USO president Edwin Castaño that Ecopetrol is considering sell part of its transport and logistics firm Cenit, Ecopetrol’s vice president Camilo Marulanda said that it is not an option being considered.

Ecopetrol (NYSE:EC) has released more concrete details on its strategy going forward, revealing plans to focus on its larger producing fields and divest of non-strategic assets.

The Santander Governor Richard Aguilar Villa said that he was able to confirm an official visit from Ecopetrol (NYSE:EC) president Juan Carlos Echeverry to discuss the future of the Barrancabermeja Refinery and address employment alternatives.