The sector has announced several gas discoveries in the Caribbean Sea in recent months. Colombia wants to seize the offshore opportunities but it also wants to be ready for the challenges that this represents.
Last year was a difficult one for the industry in general. The Ministry of Mines and Energy (MinMinas) will announce the country’s reserves in coming days but the outlook is not positive.
Senators Maritza Martínez (U party) and Jorge Robledo (Polo Democrático) called a debate to discuss the impacts of the extraction of non-conventional resources through fracking.
The country has been waiting for offshore exploration results with optimism. Ecopetrol (NYSE: EC) announced the first big finding of the offshore exploration campaign.
Attorney General Nestor Humberto Martinez said that the first indictments for the Reficar case are ready. He called the ‘scandal’ “the biggest misappropriation of public funds in the history of Colombia.”
Ecopetrol (NYSE: EC) wants recover the ground lost by the oil crisis. To achieve this, the NOC has big plans around Colombia. The department of Huila will have several projects this year.
Ecopetrol (NYSE: EC) is focusing on offshore projects and so the company will develop several projects this year with partners. The NOC will be the operator in one of these.
Juan Carlos Echeverry gave details on Trogón and Lorito 1; two of Ecopetrol’s (NYSE:EC) most controversial projects in Guamal’s community.
Ecopetrol (NYSE: EC) announced its operating strategy for this year. Unsurprisingly, the company wants to continue generating short-term profits for its shareholders.
The oil industry has contributed to the country’s development, but also provokes rejection by some. Juan Carlos Echeverry, CEO of Ecopetrol (NYSE: EC), referred to this situation and said that the country must make a decision.
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