News and AnalysIs for

This article is not about Pacific Rubiales (TSX:PRE). It is about Colombia’s most productive field and the challenges of maintaining the 1mmbd goal.

The low price of oil could be an opportunity for Ecopetrol (NYSE:EC) to take advantage of smaller companies struggling with their cash flow and financial obligations and grow their proven reserves through acquisitions, argues a columnist.

Ecopetrol (NYSE:EC) says that it has held workshops to train local leaders and residents in 332 municipalities on how to adequately react to an emergency, a program that is now in its third year.

The international oil price scenario might be grim, but Ecopetrol has some good news to celebrate as its Chichimene Field reached a new daily production record. But in the current price scenario, how important will this milestone be?

Ecopetrol (NYSE:EC) has offered an overview of operations at the Barrancabermeja Refinery, which it says is one of its most important industrial complexes, but did not mention any expansion plans.

Ecopetrol (NYSE:EC) says that it has successfully sent the first shipment of heavy crude to the Coveñas port using a new butane diluent designed to replace imported naphtha, a technique the NOC says could save it US$70M a year.

Ecopetrol (NYSE:EC) says that the company is still weighing its options regarding unonventional production in the Middle Magdalena Valley, and that it has yet to present a request for the environmental license to proceed with E&P projects.

Ecopetrol says its board of directors has approved a US$7.86B Capex plan for 2015. The investment looks to keep production up while focusing on cutting costs, and is a 26% drop in spending compared to 2014. Exploration and unconventional activities took the biggest hit.

A survey of experts and managers involved in Corporate Social Responsibility (CSR) programs said that Ecopetrol (NYSE:EC) is both the most visible proponent of CSR, and also the most respected.

The pending decision on the future of the Rubiales Field, still Colombia’s largest producer, is running out of time. But while the political decision and momentum to return the field to full Ecopetrol (NYSE:EC) control looks clear, the technical requirements of the aging field are not so cut and dry.