Problems surrounding an ethanol plant that is to be built by Ecopetrol’s (NYSE:EC) biofuels unit Bioenergy have made their way to the Colombian Senate, and Senate Martiza Martínez wants ECP president Javier Gutiérrez and Bioenergy manager Aleck Santamaría de la Cruz to explain the status of the plant.
Ecopetrol’s (NYSE:EC) new regional vice president Francy Ramírez Arroyave has taken her post and looks to strengthen the company’s regional presence and autonomy, while at the same time staying aligned with larger corporate objectives like growing overall production.
Add biofuels refining to the list of problems that Ecopetrol (NYSE:EC) has racked up, with a planned plant facing a familiar trend of labor issues, overrun budgets, and delays.
Ecopetrol (NYSE:EC) is considering building an additional regasification plant in order to protect against supply deficits that could affect the country starting in 2018.
Nearly four years after announcing the discovery, Ecopetrol (NYSE:EC) has received the environmental license it needs to start more drilling at its Mago-1 well location near Puerto Gaitan, Meta.
Senator Jorge Robledo, a vocal critic of the oil industry, has warned that there could be a possible conspiracy of fuel importers and multinational firms that want to keep the Barrancabermeja Refinery from being modernized.
Ecopetrol (NYSE:EC) has unveiled a processing center to offer greater capacity for seismic imaging, the facility is operational starting the beginning of the month and located in Bucaramanga.
Blockades of the La Cira Infantas field have prohibited access to the administration facilities and led the operators of the field to suspend six contracts, affecting 700 workers associated with the project.
Ecopetrol lived through “golden years” from 2007-2012 and now confronts not only a challenging operational scenario, but also questions affecting its potential moving forward.
While 2014 has proven to be a difficult year for Ecopetrol (NYSE:EC), its president Javier Gutiérrez says the company will return to its production goals in 2015 and produce a million barrels a day.
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