The legislative bill containing the constitutional reforms to facilitate the Havana agreements on peace passed their first debate in one session, but its main critics in the Centro Democrático party abstained, leading to confrontations with supporters of the bill.
The attack on the Transandino Pipeline (OTA) in June of this year has been labeled the worst in Colombia’s history due to the extensive environmental damage which occurred from the spilled oil. Four months on, the initial emergency measures are just now being concluded.
A report from security consulting firm Ágora confirms that it is not only pipeline and infrastructure explosive attacks that have dropped in 2015, but also extortion against hydrocarbons firms and kidnapping, with common criminals the main culprit.
Blockades kept Ecopetrol (NYSE:EC) from producing 11 million barrels in 2014, and a national paper takes a look at the charges that there are many Community Action Committees (JAC) with a mafia grip on oil activities in many of Colombia’s regions.
The USO’s ongoing collective bargaining with Petrosantander had been described with a more amicable tone in past statements by the union, but apparently there was not enough common ground to reach an agreement, as the negotiation processes closes without an accord.
Over the last week President Juan Manuel Santos has faced calls from both critics and government institutions to release the full details of the initial peace agreement announced on September 23, while the government insists that the guerrilla will face sanctions as part of the transitional justice.
The benefits of peace on Ecopetrol’s (NYSE:EC) financial results, and in turn the fiscal take, are numerous; from the value of oil deferred or spilled due to attacks, repair costs of pipelines and production from areas where the conflict has prevented greater E&P activity.
President Juan Manuel Santos arrived in Cuba to reach a preliminary agreement with the Farc commander Timoleón Jiménez, alias ‘Timochenko’, in which both have promised to sign the final agreement and end the more than 50 year conflict in the next six months.
Ecopetrol (NYSE:EC) published a look a back on the 2,572 attacks on its oil infrastructure between 1986 and 2015 by the guerrilla, and gave a small glimpse into some of its impact.
Chinese-Indian oil firm Mansarovar has received new found attention after a small number of its USO affiliated workers announced a strike, which the company rejects as unnecessary. The conflict has caused the firm to talk to the local press, giving us a rare glimpse.
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