Ecopetrol (NYSE:EC) reported that it implemented its contingency plan in the departments of Cesar and Norte de Santander, after oil spills were reported by authorities. The development of these and more stories in our periodic Eco summary.
Ecopetrol’s (NYSE: EC) reported its exports metrics for the first quarter of 2019. ECP export distribution is changing, but the United States remains as the principal destination of Colombian crude. The company reported a decrease in this metric compared to previous quarter, but it increased compared to 1Q18.
The Colombian Chamber of Petroleum Goods and Services (Campetrol) brought authorities and industry representatives together, to analyze the sector’s territorial strategy. Here are the details.
The Colombian government implemented the “Works for Taxes” strategy to allow companies to pay taxes through projects in their areas of influence. Authorities announced the projects for this year and the committed investment.
Colombia’s ethanol industry has been competing with the American ethanol market, which unlike the national industry, has a subsidy that is now affecting local producers.
The Colombian peso has devaluated strongly against the dollar in recent months, causing concerns in some economic sectors. Juan José Echavarría, Manager of the Colombia’s Central Bank (Banrep), spoke on this subject.
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