During a successful project approval marathon (‘ocadtón’) session, the Collegiate Bodies of Administration and Decision (OCAD) gave the green light to develop several projects throughout the country. These and other stories in our periodic Royalties summary.
GasEcopetrol (NYSE: EC) will start the second phase of work at the Cupiagua gas plant in the Department of Casanare. This new process will improve several operational aspects and the firm expects an increase in production.
The oil industry has suffered enough because of the constant attacks by the ELN. A cease-fire is great news for this sector, as it would mean a great relief for oil firms, at least while it lasts.
The Government will investigate recruitment processes in the oil sector, as there have been complaints about possible irregularities. Griselda Janeth Restrepo, Minister of Labor (MinTrabajo), spoke about the government’s actions to judge this situation.
The Ministry of Mines and Energy (MinMinas) announced a new increase in fuel prices. The entity said that Hurricane Harvey affected prices in Colombia.
The project had an investment of CoP$43B and will guarantee natural gas supply for one million residential, commercial, vehicular and industrial users in Antioquia.
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