The opposition to fracking in Colombia has been simmering for some time, but reached a new level last week after Santander’s Departmental Assembly unanimously voted against the technique in their territory.
Iván Cortés, the manager of Llanopetrol, the controversial firm created by former Meta Governor Alan Jara to build a refinery in the department, took to the press to defend the project, and assured that it is no white elephant.
A work team of experts from the National Hydrocarbons Agency (ANH) attended the Cesar Department Assembly to encourage dialogue and address concerns from local authorities.
The first warnings that Ecopetrol’s (NYSE:EC) honeymoon after taking over the Rubiales field could be coming to a close have emerged. Community groups are complaining that few of the NOC’s contractors have socialized their projects with locals, and want a greater focus on local hiring.
Yet another reader question and yet another off-the-cuff answer led to some introspection and some inspection of the facts. Fuel consumption – as measured by Ecopetrol (NYSE:EC) – has grown by 6.4% annually since 2008.
The president of the association of fuel stations Fedispetrol Álvaro Younes said that contrary to what the government’s formula has yielded, fuel prices for both gasoline and diesel should be falling, and be at least CoP$300-400 (US$0.09-0.12) less per gallon.
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