The downgrades for Bogotá and Medellín — Colombia's two biggest cities — are the same action Fitch Ratings took against the nation's sovereign rating and state-controlled Ecopetrol in July.
The state-controlled oil giant and the U'wa community that has spent decades fighting energy firms have negotiated an end to their standoff in Norte de Santander.
While Ecopetrol's long-term foreign-currency IDR was maintained at BBB, its outlook has changed to negative, and the energy giant's long-term local-currency IDR was downgraded one notch.
The expiration of a contract between Pacific Exploration and Ecopetrol cedes the Canadian firm's 43% stake in the vast Campo Rubiales field to the state-run oil company.
Given the challenging petroleum price environment observed since the beginning of 2016, Ecopetrol S.A. (BVC:ECOPETROL; NYSE:EC; TSX:ECP) has announced that it will seek to save an additional $1.6 trillion COP ($478.736 million USD) through 2016. This comes after the company...
Ecopetrol (BVC:ECOPETROL; NYSE:EC; TSX:ECP) has announced that effective February 15, chemical engineer Adolfo Tomás Hernández Núñez has been appointed the new vice president of refining and industrial processes for the Colombian-government controlled petroleum company. Hernandez...
20 Orinoco Crocodiles (Crocodylus Intermedius) were reintroduced into their natural habitat this month, in the Tuparro National Park, the same environment that received 21 crocodiles in May of last year. Orinoco Crocodiles (Caimán Llanero in Spanish) are a critically endangered...