Oil prices have stabilized allowing the reactivation of investments, but these are low compared to prior years’ levels. However, the government has a plan to encourage more exploration investments, taking advantage of a better price environment.
Social problems in the department of Meta have shut-in important oil blocks for the country. Local and national authorities met to find a solution to this problem as soon as possible.
Deputy Minister of Mines and Energy, Carlos Cante, is currently in Oslo (Norway) participating in the Extractive Industries Transparency Initiative (EITI) summit.
Social unrest has increased substantially in different oil fields. Some companies have reported blockades and attacks against their infrastructure and workers, and USO spoke about the situation.
The president of the National Hydrocarbons Agency (ANH), Orlando Velandia, spoke about oil prices, production targets and other industry metrics for this year.
Ecopetrol (NYSE: ECP) is facing a difficult situation in southern Meta as a result of social protests. The hooded protestors say they want more local contracting and the company responded to these demands.
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