The final stretch is underway to close and approve via plebiscite the peace agreement reached between Farc and government negotiators. The date for the signing of the agreement and the critical plebiscite to pass it are now official as well.
The challenge for Ecopetrol (NYSE:EC) over the last year and a half under Juan Carlos Echeverry has been to guarantee its cash flow, cut costs and maintain disciplined in its spending, but now the firm can turn the page and start to focus on production.
Pending changes which will be announced by the Energy and Gas Regulation Commission (CREG) between October and November could mean lower biofuels rates, which has producers concerned.
Concerned by stagnant execution and technical deficiencies in royalty funded projects in Huila, the director of the National Planning Department Simón Gaviria Muñoz said the entity would assist local leaders to correct the situation, but also left a warning. This and other royalty related stories in our periodic summary.
Two fields in Meta previously closed by Ecopetrol (NYSE:EC) due to the fall in oil prices will now be brought back online at some point in the next month and a half.
The Barranquilla Chamber of Commerce sees bright opportunities for the region with an increase in the number of companies interested in locating in the region, and from a wide variety of disciplines. But offshore activity could prove to be key source of growth for the region and attracting new firms is an important part of its strategy.
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