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The ELN guerrilla group released three journalists, first Spanish citizen Salud Hernandez and then two RCN Noticias reporters, as the group continues to defy the government, complicating the potential start of peace talks.

May finished with a call by the ELN for a bilateral ceasefire, something that has not been achieved with the Farc even after years of negotiations. The government has not reacted but we doubt there would be much public support.

A dispute with a corporation of community action committees (JACs) in Acacías has led to blockades, threats against workers and even fuel filled bottles being thrown at Ecopetrol’s (NYSE:EC) drilling equipment which is destined for the Chichimene field.

After a total of 50 rounds of talks, the government and Farc have announced they will start a permanent session on Monday until a final agreement and cease fire is reached.

The government and Farc announced an agreement to end the use of minors among the guerrilla ranks and clear its camps as well, the latest small step forward in an uncertain process.

The 49^th round of talks ended last week without any major advances, but former El Salvadorian guerrilla Joaquín Villalobos, an advisor to the process in Colombia, assured that the end is the most difficult part, but that an agreement is near. Meanwhile the ELN process gets complicated.

A decree that would lift restrictions to import ethanol has been criticized by Senators and the biofuels industry association, as were the delays and overruns at Ecopetrol’s (NYSE:EC) biofuel refinery, which is still under construction.

The lack of a concrete advance or a clear timeframe in the peace process is starting to take a significant toll on support for the process with the Farc, as a recent Gallup poll showed 66% of Colombians think the process is not on track.

While the number of attacks on the Coveñas/Caño Limón pipeline has fallen dramatically, Ecopetrol (NYSE:EC) is facing the high cost of illegal valves and pipeline theft.

This week, we recorded the highest number of guerrilla-initiated incidents since last July. And they included the first large-scale attack on the Coveñas / Caño-Limón pipeline in some time. This will not be good for the peace process with the ELN nor for May production results.