Ecopetrol (NYSE:EC) and Talisman announce commercial viability in CPO-09 block, which will add 35 million barrels of reserves and marks the second addition by the NOC in as many weeks.
Only a day after Ecopetrol and Talisman announced a major discovery in CPO-9, comes this story about complaints of odors in another part of the municipality of Acacias, Meta.
Ecopetrol (NYSE:EC) has declared to Colombia’s National Hydrocarbons Agency the commercial viability of the Eastern Caño Sur block, adding 22.4 million barrels of 1P reserves.
Ecopetrol (NYSE:EC) awarded a group of 24 suppliers whose performance as contractors stood out as a model in 2013 in a ceremony held in Bogotá.
Estimates from Ecopetrol (NYSE:EC) are that upcoming phases of the current modernization work at the Barrancabermeja Refinery will employ up to 5000 people at its peak of activity in 2014.
The Ministry of Mines and Energy (MinMinas) has presented its formula to lower fuel costs at the pump and also believes that the modernization of national refineries could also contribute to a lower price in the midterm.
Ecopetrol (NYSE:EC) is launching a pilot plant that will implement a chemical recovery technology in its 28-year-old San Francisco field as part of a larger strategy to increase production in mature fields.
The economic model used to determine the price of fuel for the consumer is set to be a central theme for debate as Colombia moves into an election year, but several experts asked by the local press concur that the main refinery producer, Ecopetrol (NYSE:EC) will continue producing fuel regardless.
An article in the local paper Noticiero del Llano quoting unnamed “ecologists” is calling on Ecopetrol to assume the social responsibility of exploration and production, and called on readers to voice concerns to a mobile unit of the NOC designed to receive complaints from the community.
The government is presenting a new formula to calculate fuel prices and the Ministry of Mines and Energy says it has a plan that will not sacrifice income for Ecopetrol (NYSE:EC).
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