The Ministry of Mines and Energy (MinMinas) announced lower prices for both gasoline and diesel, while the transportation sector called for the changes to be implemented over a longer period of time, and called for more attention from the state.
The oil workers union USO has been banging their drums about an Ecopetrol seismic contractor Sismopetrol, who had closed operations and left workers unpaid. Now Ecopetrol (NYSE:EC) has clarified why the work had stopped, and said it will compensate the affected workers.
Critics of the decree that promises to expedite the process of environmental licensing continued to push back, while a UN survey finds agriculture water use is leaving a river dry in the Valle de Cauca. These and other stories in our periodic round up of environmental stories.
David Riaño assumed the role of president of Colombia’s main gas transporter TGI around a week ago, and has now announced an investment plan of US$200M to invest in three strategic projects that will expand the company’s capacity.
After the local environmental agency Corporinoquia questioned whether access routes for a Geopark drilling platform in Llanos 62 would affect the water table and local animal species, the company has agreed to halt one of two platforms.
Ecopetrol (NYSE:EC) management looked to highlight the positive aspects of the third quarter 2014 on its earnings conference call, pointing out that although profits dropped, production increased and attacks on infrastructure has dropped. While the firm will keep its projections for 2014 and 2015 for now, company president Javier Gutiérrez said a review of its strategy will be made towards the end of the year.
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