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What happened in 2Q16?

What happened in 2Q16?

The crude oil production decline in 2Q16 – which continued in July – was a surprise for some observers (including us unfortunately). We know the reason is the lack of development drilling which is letting natural declines dominate production.

Monday, September 12th, 2016
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MinAmbiente forms special committee to end Putumayo protests

MinAmbiente forms special committee to end Putumayo protests

Looking to end a surge of strikes in Putumayo, the Ministry of Environment (MinAmbiente) said it will lead in creating an “inter-institutional committee” for the department. The ministry said it was to deal with “inadequate hydrocarbons practices,” but its statement talked exclusively about illicit crop eradication.

Monday, September 12th, 2016
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USO lobbies MinTrabajo to facilitate ECP strike

Leadership of the USO met with the Labor Minister Clara López and urged the official to step in as a mediator between the national government, the union and Ecopetrol (NYSE:EC) management, ahead of a possible union strike in October.

Monday, September 12th, 2016
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Ecopetrol Round draws interest from 138 firms

Ecopetrol (NYSE:EC)’s plans to auction off non-strategic assets in a special bidding round has received interest from a total of 138 suitors, as the NOC looks to sell off around 20 of its smaller and mature fields and blocks.

Thursday, September 8th, 2016
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USO strike is reckless, Echeverry says

Ecopetrol’s (NYSE:EC) president Juan Carlos Echeverry rejected the motives for a planned strike by the USO oil workers in October and said it is a reckless move considering the state of the oil industry.

Thursday, September 8th, 2016
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Crude exports to US pick up

Crude exports to US pick up

During the first half of 2016, crude exports from Colombia to the United states increased by 82,000bd, to reach a total of 520,000bd. This amounts to a 18.72% increase compared to the same period last year.

Thursday, September 8th, 2016
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