Ecopetrol (NYSE:EC) highlighted the results of the recent bilateral negotiation, part of the government’s effort to redefine the commercial structure of natural gas in Colombia and lower prices for the final consumer.
Ecopetrol (NYSE: EC) spoke to investors last week and one of the upbeat stories was about exploration, something the NOC often gets criticized for.
Ecopetrol’s (NYSE:EC) president Javier Gutiérrez said that the Asian market is emerging as a key receiver of Colombian oil while the US increases its self sufficiency in energy matters, and says the country is competitive in the Orient.
Inhabitants near municipalities of Castilla La Nueva, Acacías and Castilla say that Ecopetrol’s (NYSE:EC) crude processing station Chichimene continues to contaminate their water supply while the NOC says its addressing the situation.
Ecopetrol (NYSE:EC) topped the rankings of the most admired company by opinion leaders in an annual Opinion Panel survey. Meanwhile, a business publication speculates as to how much each share of the NOC will pay at the end of 2013.
Ecopetrol president Javier Gutiérrez says that higher hydrocarbons prices, a favorable exchange rate and historic production levels have contributed to positive results for the 3Q13, but that attacks on transport infrastructure and community blockades remain a worry for the NOC.
It has been revealed the Colombia’s largest private oil operator Pacific Rubiales (TSX:PRE) sent a letter to Ecopetrol (NYSE:EC) in March to formally ask the NOC to apply its STAR secondary recovery technology immediately and not wait until the 2016 contract ends.
Ecopetrol (NYSE:EC) says that it signed CoP$14T (US$7.44B) worth of contracts with suppliers from January to September of this year, of which 92% went to Colombian companies.
Workers demanding payment of salaries and debt from contractors at Ecopetrol (NYSE:EC)’s Porvenir pumping station in the Monterrey municipality have lifted their blockade after the NOC intervened to provide guarantees.
Ecopetrol (NYSE:EC) had made offers to buy two shipments of gasoline and two of nafta for dilution, which should arrive in November.
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