When the World Economic Forum opens its Latin American conference in Medellín this week, the Finance Minister Mauricio Cárdenas will unveil “the new economy” of Colombia, which is no longer dependent on oil prices or minerals, but instead on large agroindustry projects and tourism.
Ecopetrol’s (NYSE:EC) export distribution in 1Q16 showed a big shift to the US, the Gulf Coast in particular, and away from the Far East, which had been a strategic market for the NOC.
The USO has again railed against proposed changes to Ecopetrol’s (NYSE:ECP) health benefits, which it alleges will lower the quality of health professionals and put its workers at greater risk.
The restructuring process of Pacific E&P will take place in the Canadian legal system after both US and Colombian authorities announced they would support this process, although Colombian regulators have ordered the firm to guarantee payments for its Colombian creditors.
The Ministry of Mines and Energy (MinMinas) has announced that Carlos Andrés Cante will replace María Isabel Ulloa, as the Vice Minister of Mines, and will continue her work in consolidating a unified national mining policy.
At the end of March of this year, the government announced the start of formal talks with the ELN guerrilla group. The talks are to move in parallel to the process with the Farc, which is in its final stages after nearly four years.
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