Ecopetrol (NYSE:EC) has signed onto one of the largest efforts in Colombia to protect endangered wildlife species, in conjunction with the Wildlife Conservation Society (WCS) and others. This and other environmental stories in our periodic summary.
The Finance Ministry’s (MinHacienda) plan to cover medium-term gaps in its budget created by a loss of oil income are drawing skepticism from analysts, who doubt that tax increases, a widened deficit and a “new economy” based on new and traditional sectors will cover the lack of oil income.
In Meta the Vice Minister of Labor Francisco Javier Mejía said that only 6000 jobs have been shed in recent months, less than what has been reported, while Ecopetrol (NYSE:EC) says that its local hiring in the department is meeting its promises. These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
There is much said in the press about Colombia’s cost of fuel, most of it alleging a high drain on Colombian wallets. But a comparison of the costs in other Latin American countries show that it is far from being one of the most expensive countries.
The reversion of the Rubiales field to Ecopetrol (NYSE:EC) must result in a substantial improvement to the quality of life for communities in its vicinity, said Senator Maritza Martínez, who added that she will present a constitutional reform to return a greater share of royalties to producing regions.
The Administrative Department of Science, Technology and Innovation (COLCIENCIAS) and the National Hydrocarbons Agency (ANH) decided to give to Colombian professionals the opportunity to continue training abroad through a contest that supports the human capital of the hydrocarbon sector. We attended the kick off meeting and brought back this report.
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