Ecopetrol (NYSE:EC) is handing over three oil fields to its own subsidiary Hocol in Ortega, Tolima, which caused concern and even blockades by the local community.
Senator Manuel Guillermo Mora has called for the government to turn to coal instead of gas to supply thermal generators, and to establish a price stabilization fund using royalty savings.
Improvised, illegal and dangerous valves installed along Ecopetrol (NYSE:EC) pipelines are causing it to lose a growing amount of crude, also resulting in risks of severe environmental damage.
This Thursday, November 19 the peace process in Havana marked its third anniversary involving more than 500 days of talks in the Cuban capital. While there is certain progress, time is running out on a March 23 deadline to sign a final agreement, as the parties cannot get past the issue of transitional justice.
Ecopetrol (NYSE:EC) can celebrate that unlike nearly all of its private industry peers it has been able to post a profit in the third quarter of 2015, but it has seen its production fall slightly, and its E&P business continues to post losses. This has been compensated by its refining business to some degree, while transportation income nearly doubled.
The OCAD decision-making bodies include a multilevel representation of different government entities and have the power to decide whether a royalty project will move forward, but one academic says they must have a greater focus on planning for the long term and have an element of popular representation.
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