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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

Javier Gutierrez, president of Ecopetrol, made a visit along with company directors to inspect the progress of the Bicentenario Pipeline in the departments of Casanare and Arauca, saying it’s “weeks” from being operational.

Ecopetrol has kicked off its third National Call to Biodiversity, and is on the lookout to invest US$2.2M in conservation projects that focus on the tropical dry forest. From an Ecopetrol press release, translated and with commentary by Hydrocarbons Colombia.

Reyes Reinoso, president of Ecopetrol’s Cartagena Refinery (Reficar) spoke with Portfolio.co regarding the refinery’s modernization project. According to the executive, the project is now in its final stage and Ecopetrol’s board of directors have now approved a proposed increase in the total budget.

Ecopetrol’s results always grab our attention because they come out first. It is tempting to think of them as a bellwether for the industry if only because of the weight the state-owned-enterprise (SOE) has in total Colombian market calculations. So when the giant disappoints, as it did in 1Q13, it is worth asking the question if the causes are common to the industry in general or are unique to Ecopetrol.

As reported by Dinero, the company Cenit, a subsidiary of Ecopetrol, began operations last week. Cenit, specialized in oil transportation and storage, starts as the second largest company in the country, with US$7.7B in assets. “Cenit is the missing piece in the industry to strategically meet increasing hydrocarbon production in the country. We are the link the sector needed to solve the bottleneck in crude transport and for operational excellence in the service” said Camilo Marulanda, president of Cenit.