The Banco de Bogotá has been one of the lead banks to finance the US$5B needed for all three phases of the Bicentennial Pipeline and bank executives expect this role to continue as the pipeline becomes operational.
We have not one but three interviews this month.
We calculate that Petroamerica is the 8th largest company by market capitalization listed on the TSX or TSX-V exchanges with operations in Colombia and the largest non-operating company of the Canadian group.
Castilla Crude Refining Economics
In the last two months heavy grades have remained strong in the Gulf of Mexico market. Margins have been positive, at least in the higher end Gulf of Mexico conversion refineries.
The USO in a statement says it categorically rejects the model of new contracts that Ecopetrol’s administration is proposing. The union calls it an attack against the workers, as it will allow contractor firms to lower headcount, decrease salaries and hierarchical ranks of works, increase the work load through “multifunctional” workers. This will expose workers to a higher risk of accidents, breaking the internal policy of Ecopetrol called “Work Safely, Clean Barrels”.
Ecopetrol, through its subsidiary Bioenergy, has land holdings that exceed the legal limits established by Colombian law.
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