Unwavered by a formal decision to suspend the modernization of the Barrancabermeja Refinery by Ecopetrol (NYSE:EC), city authorities and unions continue to call for the project. The refinery management has denied rumors that it is currently unsafe and defended the NOC’s priorities.
In Ecopetrol (NYSE:EC) 4Q15 results conference call, Cenit President Tomás Rueda revealed that the NOC is working with authorities on a new pipeline tariff scheme. That no doubt pleased his suffering clients.
It was already burning, and you should not blame the firefighters, said Ecopetrol president Juan Carlos Echeverry in response to questions regarding the role of current ministers and government officials in the overruns of the Cartagena Refinery. This and other stories in our update on this matter.
The controversy surrounding the soaring costs to modernize the Cartagena Refinery (Reficar) has hit new heights (or are they lows?), with control bodies promising to investigate former management, presidents accusing presidents and much more.
The blame game is in full effect, and now the General Controller has said the Cartagena Refinery contractor charged with the cost laden modernization project CB&I (NYSE:CBI) is looking to pull out of Colombia without passing over documents requested by the control entity in an audit of the project.
The Minister of Mines and Energy (MinMinas) Tomás González sent a letter to the mayors and governors of the Caribbean coast detailing a resolution from the ministry that he says will help expand existing infrastructure and deal with the region’s natural gas supply issues
In the days since the release of the General Controller’s report on the cost overruns associated with the modernization of the Cartagena Refinery (Reficar), the revelations have caused many to take to the media with their own interpretation of the events and what it means. We share some of the more notable ones.
The General Controller has released a 200 page report on the cost overruns incurred in modernizing the Cartagena Refinery, and accused Ecopetrol (NYSE:EC) of spending US$4.02B more than the original budget.
A proposed Meta Refinery has received a new boost as a Colombian-Dominican-Korean Consortium has made a proposal to build the plant with technology specially designed for heavy crude and at a significantly lower price than a previous proposal.
A staff reporter with a national paper gives his colorful account of touring the Cartagena Refinery (Reficar) after its long delayed launch and says that to his layman’s perspective, Reficar might be too big for its own good.
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