The USO says that Ecopetrol (NYSE:EC) continues to hedge and refuse to progress on the modernization of the Barrancabermeja Refinery, with the union saying that it is a must to have a “competitive” and modern refining facility.
Incidents near areas of interest to the oil and gas industry were stable at 39 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. However, our 4-week Moving Average incident count was down at 33.3 and the 52 week average was also down slightly at 31.1 incidents per week.
This month we have a number of interviews on a variety of topics.
Gran Tierra Energy (NYSE:GTE) saw its Colombia production grow by 41.3% in 2013 to reach an average of 18,584boepd, which accounts for 83% of its total production.
“We are also part of the development of Putumayo, Huila and the country,” said the legal representative of one of Putumayo’s largest tanker truck firms in defense of the sector and the number of accidents, spills and discontent felt in these oil producing regions, where local leaders and residents have put the blame on tanker truckers for wrecking their communities and roads.
Company officials held a call to discuss the end of year 2013 results and convince the market that its continued growth over the last five years is sustainable going forward despite operational complexities.
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