While the political clamor to modernize the Barrancabermeja Refinery continues, the facilities reported a net profit of CoP$238B (US$77.7M) in the first quarter of 2016, which represents a 360% improvement over the same period in 2015.
At least 90 cacao producers from Putumayo participated in a cacao ‘summit’ which took place in the department to debate the future of the industry, made possible with the support of Ecopetrol (NYSE:EC). This and other Corporate Social Responsibility (CSR) stories in our periodic summary.
Even one of Colombia’s main business publications has questioned statements from the Minister of Mines and Energy Germán Arce, who argued that the technique should be applied in Colombia. What can be expected from the popular press?
Colombia’s Superintendente de Sociedades (SuperSociedades) compiled a comparison of the income, profits and assets of the country’s largest 1000 companies, and the mining/hydrocarbons sector registered one of the biggest drops over the last year.
May finished with a call by the ELN for a bilateral ceasefire, something that has not been achieved with the Farc even after years of negotiations. The government has not reacted but we doubt there would be much public support.
Last week, MinMinas finally published 2015 reserve data. Accentuating the positive, the press release talked mostly about probable and possible reserves, dismissing the decline in proven reserves as a temporary statistical phenomenon.
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