Ecopetrol (NYSE:EC) has reorganized its board of directors, with the former Colombian ambassador to Venezuela Carlos Cure taking the role of president, replacing the former Minister of Defense Luis Fernando Ramírez.
Gran Tierra Energy (TSX:GTE) said its production had increased sequentially in the first quarter of 2016 and looks to continue to optimize its drilling and expand its exploration portfolio in the coming quarters.
The lack of a concrete advance or a clear timeframe in the peace process is starting to take a significant toll on support for the process with the Farc, as a recent Gallup poll showed 66% of Colombians think the process is not on track.
Recommendations for contractors with inflated prices, a passing of blame between Presidents Juan Manuel Santos and Alvaro Uribe and accusations of prostitutes winning contracts have taken the scandal surrounding the Cartagena Refinery (Reficar) to an all new level.
Ecopetrol (NYSE:EC) once again posted a profit in the first quarter of 2016 of CoP$363B (US$123.7M), as its transport business benefits its bottom line, coupled with cost cutting and a favorable exchange rate.
While the number of attacks on the Coveñas/Caño Limón pipeline has fallen dramatically, Ecopetrol (NYSE:EC) is facing the high cost of illegal valves and pipeline theft.
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