Ecopetrol (NYSE:EC) announced hiring trends of its contractors over the last three months, and said that of the nearly 30,000 posts generated, 90% of them went to local labor.
Ecopetrol’s (NYSE:EC) dragging of its feet on the modernization of the Barrancabermeja Refinery has put not just the city’s economy on hold, but stunted development in the region, says the thesis of a Spanish researcher.
Ecopetrol (NYSE:EC) is planning to detail its investment plan for 2015, and, with a falling oil price, its Capex budget will have to drop, as speculation swirls around what other measures the NOC might have to take because of the new price scenario.
The National Association of Financial Institutions projects that once the modernization project of the Cartagena Refinery (Reficar) is finished, it could translate into 3.9% annual growth for oil refining between 2015-2020 and lead growth in the production of petrochemicals and plastics.
Ecopetrol (NYSE:EC) has inaugurated a new water treatment facilities in Acacías, Meta, which the NOC says will allow it to quickly increase production in the Castilla field by an additional 30,000bd.
Ecopetrol (NYSE:EC) is by no means the only Colombian oil exporter but it publishes the most detailed statistics and we believe its export patterns indicate how the market as a whole is shifting.
Ecopetrol (NYSE:EC) says that it has spent CoP$13.27T (US$6.27B) on goods and services during the first nine months of 2014, with 93% of that total going to suppliers based in Colombia.
Ecopetrol (NYSE:EC) had set a production target of 819,000boed for 2014, but with its average after three quarters sitting at 754,800boed, the NOC will almost certainly fall short of its goal.
Another quarter passes, and still no decision from Ecopetrol (NYSE:EC) on the future of the Rubiales field. Meanwhile political pressure from an alliance led by the oil workers union (USO) and Senator Jorge Robledo mounts to return the field to Ecopetrol control.
The oil workers union USO has been banging their drums about an Ecopetrol seismic contractor Sismopetrol, who had closed operations and left workers unpaid. Now Ecopetrol (NYSE:EC) has clarified why the work had stopped, and said it will compensate the affected workers.
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