The Colombian Association of Oil and Gas (ACP) and the Colombian Association of Natural Gas (Naturgas) expressed their concern about the Santa Marta Court decision that orders the suspension of natural gas exploration activities in the Uchuva-2 well.
In a recent report on Colombia, J.P. Morgan noted that August’s inflation figures came in lower than expected, despite higher fuel prices.
The Fourth Labor Court of Santa Marta issued a ruling mandating Ecopetrol, the Ministry of Mines and Energy (MinEnergia), Petrobras (NYSE: PBR), and the National Environmental Licensing Authority (ANLA) to halt all gas exploration and extraction activities at the Uchuva 2 well in the Tayrona block.
The Colombian government, alongside natural gas companies, has established a Unified Command Post (PMU) to guarantee a steady supply of gas across the country.
A political control debate, scheduled for Ecopetrol’s President Ricardo Roa and the company’s board of directors to discuss the current state of the oil company, was notably missing its key participants.
An oil storage tank belonging to Ocensa, a subsidiary of Ecopetrol (NYSE: EC), exploded in the town of Tauramena, Casanare, Colombia.
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