The USO took to its favorite targets last week: eliminating outsourcing of workers in Ecopetrol and returning the Rubiales field to the NOC.
President Juan Manuel Santos admits that the substantial drop in international oil prices is going to have an impact on public finances, with the worst consequences of its fall thus far coming in 2016.
This week November production was released and average crude production stayed just above a million barrels. The tax reform bill has made it out of the senate while rumors on Ecopetrol (NYSE:EC) management change continue to distract from the NOC’s need to change pace.
The last two years the Farc has declared a unilateral truce over the holiday season, but thus far no such affirmation has came from the guerrilla. Meanwhile in Havana talks started again this week on Wednesday.
The attention always goes to crude oil production which gets the headlines. But there are worrisome trends in gas production as well.
The Minister of Environment (MinAmbiente) Gabriel Vallejo detailed a plan to offer payments to individuals who desist in illegal forestry and mining activities and instead take care of the environment.
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