Ecopetrol (NYSE:EC) says that contracts managed by the firm in the first half of 2014 reached CoP$10T (US$5.22B), putting it in line with contracting during 2013, when the NOC’s total contract pool valued COP$20B. The NOC said that 92% was performed with national suppliers.
To keep up with demand for asphalt destined for highway improvements, a firm has proposed a modernization of Ecopetrol’s (NYSE:EC) aging Apiay Refinery in Meta, which the NOC had consider shuttering.
The Ministry of Mines and Energy (MinMinas) says no changes will be made to the reference fuel price, pointing out that over the last year fuel prices have grown by less than 1% in the case of gasoline and 1.8% for diesel.
President Juan Manuel Santos named a new cabinet Monday evening which included several changes relevant to the oil industry, Amylkar Acosta steps down as the Minister of Mines and Energy and will be replaced by Tomás González.
A report looks at testimony from residents near the exploration block COR 33, which was awarded to Alange Energy, now Pacific Rubiales (TSX:PRE), but has seen activity halted as environmentalists claim a natural reserve coincides with its position.
Pacific Rubiales (TSX:PRE) is taking a successful suppliers development program from Meta to put it to work with local companies in Casanare, while Ecopetrol (NYSE:EC) strengthens cacao producers and continues the Iguana roadshow to rural schools. These and other Corporate Social Responsibility (CSR) related news.
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