Ecopetrol (NYSE:EC) rejected the terrorist attack that took place in Teorama (Norte de Santander.) Besides causing fear among the locals, the act affected backhoe loaders of the Company Termotécnica Coindustrial. The development of these and other stories in our periodic Security Summary.
Colombia’s Central Bank (Banrep) released 1Q17 Foreign Direct Investment (FDI) figures for the country. This increased in the sector compared to same period last year, despite current legal uncertainty and social unrest.
The company will focus on investments in four main areas: social development, improving productive capacity, developing sustainable environments and strengthening public management.
Anti-oil and mining referendums continue in different regions of the country and it is affecting mining and oil projects. Arbeláez and Pijao carried out these legal mechanisms to allow or reject the development of the mining and oil industry in their territories. As expected, the results were negative for the sectors.
Since 2014, the share prices of Colombia-focused producers have underperformed their global peers, a phenomenon we call the ‘Colombia discount’. However lately, despite public policy challenges, the discount is slowly reducing.
Yesterday it was Pijao in Quindio and Arbelaez in Cundinamarca. Is it not time to ask if the government’s strategy should be revised?
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