The most difficult years seem to be over. The industry is preparing to reactive investments And Ecopetrol (NYSE: EC) is not the exception. The company has defined a strategy to increase its reserves.
The commitment to increase reserves is giving its first results. Ecopetrol (NYSE:EC) recent announcement of exploration´s results in the Colombian Caribbean boosted perspectives for this year.
According to Cormagdalena, Ecopetrol (NYSE:EC) and Invías will help finance the maintenance and dredging work in the Magdalena River, if the contract with Navelena expires.
USO expressed their concern regarding Barrancabermeja Refinery’s infrastructure conditions and said a modernization must be done. They said that despite the partial success in negotiations with Ecopetrol (NYSE:EC), dialogues with Adrialpetrol failed because the company was “not ready to commit to an agreement.”
This past week Ecopetrol published its results and both the popular press – and Hydrocarbons Colombia – was focused on this event. But is this media attention justified?
We have made this point before but this is a different way to look at it. It will be very hard for Colombia to hit the production goal the ANH is talking about – 900 mbd – if Ecopetrol (NYSE:EC) is only going to be about flat with its production.
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