Students for an Ecopetrol (NYSE:EC) scholarship program were chosen in Santander and Meta, meanwhile an agreement between Ecopetrol and Corpoica was signed to benefit rural producers. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
The benefits of peace on Ecopetrol’s (NYSE:EC) financial results, and in turn the fiscal take, are numerous; from the value of oil deferred or spilled due to attacks, repair costs of pipelines and production from areas where the conflict has prevented greater E&P activity.
Two senators have taken up the cause advanced by former Senate president, Senator Jose Name, which led to the Ministry of Mines and Energy (MinMinas) and the Energy & Gas Regulation Commission (CREG) to freeze natural gas prices, citing the interests of the final consumer along the Caribbean coast.
The Colombian Association of Oil Engineers (ACIPET) has designated Carlos Rodríguez as its new executive director, replacing Carlos Alberto Leal who held the position for the last five months during the search for a permanent replacement.
We attended yesterday’s session to present the long-anticipated McKinsey study on Colombia’s competitiveness and the MinMinas/ANH initiatives to address the issues that study uncovered. Readers can find a separate article on the MinMinas press-release. Here is our extended ‘Bottom-Line’.
Led by the Ministry of Mines and Energy (MinMinas) and the National Hydrocarbons Agency (ANH) the central government has presented a plan to keep Colombia’s hydrocarbons sector competitive, overhaul how it promotes new blocks, and aims to receive US$20B in investment by 2030 with production reaching 1.3Mboed.
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