The new royalty system amounted to a substantial drop in resources received as royalties by producing departments, and now in Meta the estimate is that of the established budget, only 50% will come through due to the fall in oil prices. This and other royalty ready stories in our routine wrap up.
An announcement from Ecopetrol (NYSE:EC) that it would restrict its public wholesale offer of propane could have an alarming impact on low income communities along with health and environmental implications says the Union of Colombian Propane Companies (Gasnova).
Ecoperol cannot live of off “excessive prices” on fuel at the expense of Colombians, says the outspoken Meta Senator Maritza Martínez.
Ecopetrol posted a steep drop in profits in 2014 as the fall in the price of oil and a rise in costs took a hit on the company’s financial results.
The price of fuel in Colombia fell for the fourth straight month, but the Ministry of Mines and Energy (MinMInas) says that a weak peso against the dollar continues to keep the fall modest.
Corporate social responsibility (CSR) are exposed to deep cuts due to the oil price, although there are still many 2015 projects that already have their funding assigned, and Ecopetrol (NYSE:EC) has a steady flow of projects that have hit the press. These and other stories on CSR in our periodic summary.
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