Oil production has gone through some difficult years recently, and companies in the sector have worked to solve this situation as soon as possible. Ecopetrol (NYSE: EC) announced that two important fields reported good production metrics in 2Q18.
The National Hydrocarbons Agency (ANH) spoke about the Permanent Competitive Procedure System, approved on August 6th, 2018.
The construction of Reficar generated many debates in the country, but this facility has demonstrated its relevance for Colombia in a short time. Ecopetrol (NYSE: EC) is analyzing investment alternatives in Reficar.
Felipe Bayón, CEO of Ecopetrol (NYSE: EC), talked about the company’s plans to increase its reserves. The NOC has a solid cash position at present, allowing it to look at several business opportunities.
Ecopetrol’s (NYSE: EC) reported its exports metrics for the second quarter of 2018. ECP export distribution is changing, but the United States remains as the principal destination of Colombian crude. The company reported a decrease in this metric compared to previous year, but it increased compared to 1Q18.
During the first semester of 2018, the industry generated 31% more job opportunities in the Middle Magdalena area, compared to the same period last year.
The government announced that the savannas of Cinaruco (Arauca) are now part of the list of protected areas in Colombia. The development of these and more stories in our periodic Eco summary.
Ecopetrol (NYSE: EC) is developing several offshore projects in the Colombian Caribbean and expectations are high, especially in terms of natural gas. Felipe Bayón, CEO of ECP, spoke about the Orca-1 well and other issues relevant to the NOC.
The president of the National Hydrocarbons Agency (ANH), Orlando Velandia, spoke about prospects and projects for the sector in the first half of the year, among other topics.
Ecopetrol (NYSE: EC) is betting on offshore projects in Colombia and abroad to improve its long-term prospects. The NOC plans to increase its presence in Latin America.
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