After 30 hours of continuous negotiations and on the eve of the deadline, Ecopetrol (NYSE:EC) and its main workers union USO reached a collective bargaining agreement that will run from 2014-2018. The agreement came in the midst of threats of a union wide strike, and concedes a study group to limit the outsourcing of workers.
The Minister of Mines and Energy (MinMinas) Tomás González gave his first full interview on the major issues facing his office and appointment, and promised that the country will soon return to daily production figures of above a million barrels a day.
The first encounter between victims of the armed conflict in Colombia and the peace negotiators of the government and Farc guerrillas took place last weekend, as the talks dive into this emotionally laden topic.
Ecopetrol (NYSE:EC) shipped proportionally less crude to the US than at any time in the last three-and-a-half years. Europe continues to increase in importance to the NOC.
The General Controller’s office has published a book that analyses the impact of the General Royalty System (SGR), and says there are several systemic issues that have led to a low execution rate of royalty projects.
The State Council has supported an injunction filed by Ecopetrol (NYSE:EC), and ruled that regional and local entities cannot establish areas that limit oil or mining activities, as they are an issue of the central government.
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