The new Minister of Environment and Sustainable Development (MinAmbiente) Gabriel Vallejo has made his first public addresses to the congress and the national park service, giving the first glimpse into the authority’s priorities under his watch. Bottlenecks in environmental licensing were not mentioned.
Ecopetrol lived through “golden years” from 2007-2012 and now confronts not only a challenging operational scenario, but also questions affecting its potential moving forward.
Each day that passes anti-fracking fears spread to new areas, now with a local paper telling its Caquetá readership that the government has authorized the practice and the department will not be an exception, even though no plans exist for fracking in the department.
A rigorous regulatory framework proceeded the approval of fracking techniques says the Minister of Mines and Energy Tomás González (MinMinas) who looks to counter critics which have filled the media over the last two weeks.
While 2014 has proven to be a difficult year for Ecopetrol (NYSE:EC), its president Javier Gutiérrez says the company will return to its production goals in 2015 and produce a million barrels a day.
The General Controller’s office has gone through a roller coaster ride over the last week, but made sure to remind the government on the risks of oil production that utilizes fracking, due to its potential environmental impact.
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