Ecopetrol (NYSE: EC) has to deal with several problems to operate in the country such as attacks against infrastructure, oil theft, social unrest and popular referendums, among other. However, Felipe Bayón, CEO of ECP, is optimistic about the performance for this year, especially in terms of production.
Eight popular consultations to decide the future of mining projects in Colombia had been developed this year, where the ‘No’ has consistently won. The most recent, in Sucre (Santander), will be the ninth.
Colombia’s Attorney General is investigating several officials of Hupecol Operating Co. for possible environmental damage.
The Northeastern Regional Border Autonomous Corporation (Corponor) described the three attacks on the Coveñas Caño Limón pipeline as “truly alarming,” and reported damage to the municipalities of Teorama, El Tarra and Tibú (Norte de Sandander). The development of these and more stories in our periodic Eco summary.
The Colombian oil sector has been key for the country’s economy, but its future is uncertain, as popular referendums and social unrest are putting its development at risk. Sergio Cabrales Arévalo, Doctor and Researcher in Administration of the Andes University, made an analysis of the sector’s future.
Antoine Halff, researcher at the Center for Global Energy Policy at Columbia University and former lead analyst for the International Energy Agency (IEA), spoke about the situation of the industry in Colombia.
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