Geopark (NYSE:GPK) reported production gains in its consolidated operation and in Colombia, which now accounts for 67% of its production, but saw a strong drop in revenues and posted a loss for 2015 due to the oil price.
The USO said that a meeting with Barrancabermeja and Santander Departmental authorities was successful and that the coalition has agreed to a program to force Ecopetrol (NYSE:EC) and the government to review the modernization of the city’s refinery.
The Ministry of Mines and Energy published a draft of its 2016 strategic plan in February for comments, and the hydrocarbons industry’s priorities were meager at the very best. A new minister means an opportunity to address the agenda but we think oil and gas may be even further down their priority list than it was for Tomás González.
Hocol reassured the San Juan de Arama Municipality that despite alarms being sounded that it had an imminent plan to extract crude from oil sands, it has no plans to do so and its environmental license does not contemplate it either.
The deadline agreed to back in September 2015 of March 23rd is coming up quick, and President Juan Manuel Santos has been insisting that it be met, but has also recently sought to find some wiggle room as a final agreement by that date looks unlikely.
The National Planning Department performed an analysis to determine which departmental governments, municipalities and other executive royalty entities of the country are best managing royalty resources.
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