The National Army has executed operations along the Colombian border to fight fuel smuggling. The regions with the highest rates of contraband were Arauca, Casanare, Vichada and Nariño. Most of the fuel came from Venezuela. The development of these and other stories in our periodic Security Summary.
The Ministry of Mines and Energy (MinMinas) published the table of fuels prices for main cities of the country. There are many complaints about this decision.
Unless you invested in Geopark (NYSE:GPRK) or Parex (TSX:PXT). But then the global indices were also down.
MinMinas has ordered an increase in the bioethanol blend in fuel, from 6% to 8%, as a measure to mitigate Medellin’s pollution crisis.
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.
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