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In the last two weeks three executive managers at Ecopetrol (NYSE:EC) have retired as the company’s president Juan Carlos Echeverry adjusts his team.

Surging costs associated with transportation, refining, social conflicts and licensing have made Ecopetrol’s (NYSE:EC) cost per barrel the second highest among state oil firms in Latina America, says a report from the Colombian Petroleum Association (ACP).

The new regional vice president for the Orinoquia region of Ecopetrol (NYSE:EC) Jose Cotello has already drawn a stir in local media after hosting a press trip in the Cupiagua gas plant, where he outlined changes under his watch and objectives for production.

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.