A modernized and functioning Cartagena Refinery (Reficar) appears to be close, and the refinery is expecting to have a substantial impact on the general economy, although how much is debatable.
A regional military publication profiled the Colombian armed forces troops assigned the task of protecting the nation’s pipelines from guerrilla attacks, and detailed some of the collaboration with other government agencies on the environmental cost.
A national paper consulted with business leaders on where they thought the oil price would settle in the short term. And with words of caution and uncertainty, the response was that it would hover around US$50/barrel. Maybe.
Ecopetrol invests in improving educational infrastructure in Casanare, meanwhile the firm also promises the construction of a college campus in Granada. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
Ecopetrol (NYSE:EC) president Juan Carlos Echeverry believes the main challenge of Colombia’s oil industry is to attract and maintain investment. And he stuck to the government’s game plan: that the best way to do this is through achieving peace, not lowering taxes on companies.
The recent Colombian Petroleum Association (ACP) congress brought experts from all over the world, and a number of them offered a common theme in their presentations: to stay competitive the regulatory framework and fiscal policy must adapt to the industry.
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