Ecopetrol (NYSE: EC) begins the year with several challenges to face and overcome. The company expects to start recovering after two difficult years. With an oil price above US$50, prospects are more optimistic.
Liberal Senator Luis Fernando Velasco, expressed his rejection towards this year’s fuel surcharge, which he classified as “illegal and unfair” to Colombians’ finances.
Seems like the ‘Fast-Track’ has been anything but fast so far, since the Minister of Interior had to mediate between the political parties to give the mechanism an extra boost, and the ELN accepted its responsibility in last week’s terrorist attacks in Bogotá.
The crude price fall caused large reductions in budgets and investments worldwide. Oil firms are beginning to recover from this period and so they are investing again. The increase in Ecopetrol’s investment budget is the highest in the world.
The enhanced oil recovery strategy to increase production in the country and fields profitability is being successful. Ecopetrol (NYSE: ECP) has announced that several projects are going well.
Tito Salcedo Díaz, general manager of BioD, described the main guidelines that the sector must follow to find its place at the global table.
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