Colombians might be paying at the pump, but Colombia’s Mines and Energy Minister Amylkar Acosta says the country cannot afford to put Ecopetrol’s (NYSE:EC) financial stability at risk, and that as long as crude prices remain high, gas will follow.
Colombia scored high marks for the competitiveness of its energy sector according to two international studies which also took into account access to energy and how compatible energy policies are with environmental challenges.
Raven Pipeline Colombia, which operates small diameter pipelines, says it has advanced in socialization of its environmental plan, part of the process to obtain a license for its first Project in Colombia in the Paz de Ariporo municipality.
Corporate Social Responsibility (CSR) initiatives that received attention late August and early September include programs from Ecopetrol (NYSE: EC), The Bicentennial Pipeline and Parex Resources(TSX:PXT).
Opponents of the General Royalty System (SGR) got a legal victory after Colombia’s constitutional court accepted the arguments of Senator Juan Lozano that the new system is part of a centralist vision, which is prohibited by the current constitution.
Brazilian NOC Petrobras (NYSE:PBR) has finally confirmed the sale its Colombian subsidiary for US$380M to France’s Perenco as it continues to focus on investment in Brazil.
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