Colombia is betting on offshore exploration in the Caribbean Sea and Ecopetrol (NYSE: EC) announced gas discovery in the Kronos field a few months ago. This has generated optimism in the industry because the field could be very important for the country.
USO rejected Ecopetrol’s (NYSE:EC) administration actions against them, as it denounced “massive” layoffs and persecution of USO’s members and leaders. The Union announced that some of its leaders are now in Cartagena discussing possible measures to face the situation. As usual, they reiterated their commitment to defend workers’ rights.
This week is Easter and so I have low expectations about how much this column will be read. Many loyal readers, at least those living in Latin America, may already be on vacation.
Canacol’s CEO asked the Colombian government for more tax incentives for those exploring for gas and producing the fuel needed to supply the country’s domestic demand.
Vasconia is perhaps the most important Colombian benchmark – Castilla would be the other – but it is not, unfortunately followed as closely in public sources as Brent and WTI might be. Fortunately, we get insights from some companies’ financial results.
The department of Putumayo is one with the highest oil activity in the country. The catastrophe of its capital city, Mocoa, has affected many people. The industry announced collaborations for this zone.
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