Ecopetrol president Javier Gutierrez looks at 2013 with optimism both for the state oil firm’s prospects position but also for Colombia’s economic and political advances.
Mexico’s Energy Secretary Pedro Joaquín Coldwell has embarked on a state trip which includes meetings to discuss the business model of Ecopetrol with Colombian officials, as well as attend an energy conference in Bogota and later a trip to Brazil.
For each peso that Ecoperol invests in its Colombian Petroleum Institute (ICP), an in-house entity geared towards research and development of new technologies, the firm receives six times the amount in savings or earnings.
The Villavicencio Chamber of Commerce (CCV) will create a mechanism to resolve payment disputes between local suppliers and Ecopetrol contractors and monitor payments from the oil producer to its direct contractors.
Ecopetrol has signed a memorandum of understanding (MOU) to form an alliance with Quadrise Fuels International (QFI) and use MSAR technology for processing heavy fuel oil.
Ecopetrol and community leaders of municipalities surrounding the Cupiagua oil field have signed an agreement establishing the oil producer’s commitments with the local community.
Colombian Senator Maritza Martínez Aristizábal has tightened her message on the Pacific Rubiales and Ecopetrol relationship, and requested that Ecopetrol assume control of the Rubiales oil field.
There is still no community-Ecopetrol agreement over the Cupiagua oil field, where 14 villages within the influence of the drilling are at loggerheads with the company over the distribution of local hiring percentages for the project and the management of investment funds.
Colombian Senator Maritza Martínez Aristizábal has questioned the relationship and awarding of contracts between the state and Canadian oil and gas company Pacific Rubiales ahead of senate discussions surrounding a contract with Ecopetrol set to expire in 2016.
The Quifa/Pacific Rubiales/Ecopetrol story never dies! Now the Comptroller General (a kind of Auditor General) weighs in on the March 13, 2012 ruling to emphasize the difference in current WTI prices versus the historic prices, and therefore the Colombian state risks losing US$13M.From a Comptroller General press release, translated and with commentary by Hydrocarbons Colombia
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