News and AnalysIs for

The sea port of Coveñas has seen an increase in its storage capacity to 1.24mmbl following new tanks installed by Ecopetrol (NYSE:EC) and its transport and logistics firm Cenit. The new tanks will also allow the Coveñas facility to export fuel oil.

The last time we did this chart we concocted a marvelous story about Latin American customers wanting their oil without a heavy dose of Bolivarian rhetoric. Maybe we spoke too soon. Maybe not.

Record production from nearby fields, along with optimized contracts, processes and operations have helped the Barrancabermeja Refinery report operational profits, despite facing a rocky labor scenario within.

If the most recent timeframe for the Cartagena Refinery (Reifcar) is correct, the facilities will be finished six years behind schedule, expected to begin operation end-2015 or the first quarter of 2016 and would be the most modern refinery in Latin America. If it is finished on time.

Ecopetrol’s (NYSE:EC) stock has fallen to historic lows on the Bogota exchange and has also suffered in New York, while the company’s president Juan Carlos Echeverry calls for calm.

The president of Ecopetrol (NYSE:EC) has been promoting cost cutting programs that will clip CoP$1.4T (US$465.7M) from the company’s operational costs and help it confront the price scenario profitably.

Ecopetrol (NYSE:EC) says that it has started testing the first units of the Cartegena Refinery (Reficar), and that full operations will start in March 2016.

Ecopetrol (NYSE:EC) grew its profit for the second straight quarter since its first loss as a listed company in the 4Q14, with refining posting a profit and adding a boost. Production has grown yearly, but fell off slightly compared to the previous quarter.

Ecopetrol (NYSE:EC) and Anadarko (NYSE:APC) have announced a hydrocarbons discovery at their Caribbean offshore exploratory well Kronos-1, a development which has the government hailing that its offshore strategy is working while other industry members urge caution as the fruits of the find are still years to come.

While it might not receive the attention as dramatic explosive attacks on pipelines, cable robberies are enough for Ecopetrol (NYSE:EC) to lose nearly 25,000 barrels of oil in 2015 alone. The number of incidents doubled in the last year.