Citing the risk that social programs could be affected until royalty reforms, the central government has issued a decree to pay more than US$176M to producing regions, in what appears to be most relevant change to the new royalty system since its enactment.
Frequent attacks on the Caño Limon and Bicentennial Pipeline have claimed another causality: 500 jobs with Occidental de Colombia (Oxy), who has cut the positions as their pumping station in Arauca has been unable to keep up optimum crude levels for a month due to attacks from the ELN guerrilla, while another report says partner Ecopetrol (NYSE:EC) has declared force majeure on shipments for the same reason.
Ecopetrol’s (NYSE:EC) transport and logistics spinoff Cenit has celebrated its first year of operations, and hailed the completion of the Bicentennial Pipeline as the highlight for this first year.
The Minister of Environment and Sustainable Development (MinAmbiente) Luz Helena Sarmiento is planning to present a legislative bill and new decree to “align environmental legislation to the needs required for climate control prevention”, which will likely include restrictions on seismic exploration.
The USO says the recent firing of the president of its Cartagena chapter –the arm of the union wrapped up in an extended conflict at the Cartagena Refinery (Reficar)- constitutes a new strategy “to exterminate” the union.
Incidents near areas of interest to the oil and gas industry were up to 40, above recent and long-term averages. Non-Armed-Forces-reported incidents were below average both in percentage and absolute terms. This is our indicator of increased guerrilla-initiated activity. Our 4-week Moving Average incident count was down at 39.7 and the 52 week average was up slightly at 31.2 incidents per week.
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