Geopark (NYSE:GPRK) saw a small drop in its consolidated production (including operations in Chile and Brazil) and financial results dragged down by the fall in oil prices, yielding a loss. But the firm has reopened suspended operations in Colombia after a cost restructuring, and added new production for a 22% increase.
Colombian authorities should be paying close attention to not just the results of the first Mexico Round, but how the rest of the process plays out. It clearly demonstrates that contract conditions and geology weigh just as heavily as state take when deciding whether to bid or not, says a business publication.
After a considerable amount of debate on how to set natural prices and allow the different parts of the supply chain to agree to rates, the Energy and Gas Regulation Commission (CREG) has opted for direct negotiation.
Ecopetrol (NYSE:EC) exploration activities near Paz de Ariporo, Casanare have sparked protests over its supposed impact on the local water supply. This and other environmental stories in our periodic summary.
Ecopetrol (NYSE:EC) hosted a workshop on journalistic ethics, will support a major vehicular bridge in Meta and lent a hand in a spill cleanup. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
Little or no information on biodiversity in Colombia’s offshore blocks and lack of a clear regulatory framework for offshore are two of the issues that are getting more attention following two offshore discoveries made by Ecopetrol over the last year.
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