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Ecopetrol ADR Representing 20 Ord Shs V.EC


Primary Symbol: EC

Ecopetrol S.A. is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company's segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company's Exploration and Production segment includes exploration, development and production activities in Colombia and abroad. The Company's Transportation and Logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products, including diesel and biofuels. The Company's main crude oil pipeline systems' operating capacity is approximately 1.34 million barrels per day (BPD). The Company's main refineries are the Barrancabermeja refinery, which it directly owns and operates, and a refinery in the Free Trade Zone in Cartagena that is operated by Reficar S.A., a subsidiary of the Company. The Company also owns and operates two other minor refineries: Orito and Apiay.


NYSE:EC - Post by User

Post by Nikolaion Aug 26, 2009 3:38pm
353 Views
Post# 16252186

update on the state mining co.

update on the state mining co.

in Diario Hoy today. Looks relatively benign to private companies.


https://www.hoy.com.ec/noticias-ecuador/la-empresa-minera-costara-21-millones-364881.html

Empresa Nacional Minera costará unos $21 millones

Publicado el 26/Agosto/2009 | 00:06

Conformación

Unos $21 millones costará la creación de la Empresa Nacional Minera (ENM), según confirmó a este Diario de Negocios una fuente cercana al proceso de conformación de la entidad.

De este total, unos $6 millones serán dedicados al gasto corriente, donde se incluirían rubros como la contratación de personal, la adquisición de una instalación para el funcionamiento de la compañía, entre otros.

En un principio la ENM contará con un plantilla de 30 personas. Este número, sin embargo, se extenderá en los próximos años acorde al desarrollo de los proyectos.

Los otros $15 millones serán dedicados para el avance de tres proyectos no metálicos. Y estos son: plan Amazonas, ubicado en la provincia de Napo; Isimanchi, en Zamora y Unacota en Cotopaxi. Estos serán pilares que se encuentran en fase de prefactibilidad.

Unacota está siendo negociado entre el Estado, la empresa Cemento Chimborazo y con una empresa portuguesa para conformar una alianza estratégica que se encargará de su desarrollo.

El ministro de Minas y Petróleos, Germánico Pinto, reveló, en días pasados, que la cartera ya firmó el acuerdo ministerial que permitirá la conformación de la ENM. Este documento fue firmado el pasado 23 de julio del año en curso y fue aprobado por el ex subsecretario de Minas, José Serrano y por el subsecretario jurídico de la cartera, Jaime Pinos.

El acuerdo, que contiene unos cuatro artículos, dispone la constitución de la empresa para que intervenga en todas las fases de la actividad minera bajo condiciones de preservación ambiental. La entidad será conformada en una sociedad de derecho público con personalidad jurídica, patrimonio propio, dotada de autonomía presupuestaria, financiera, económica y administrativa. (SS)

*****

Empresa National Mining will cost some $21 million Published the 26/Agosto/2009 | 00:06

Conformación

Some $21 million it will cost the creation of the Mining National Business (ENM), as confirmed to this Newspaper of Business a source close to the process of conformación of the company.

Of this total, some $6 million will be dedicated to the current expense, where areas would be included like the contracting of personnel, the acquisition of an installation for the operation of the company, among others.

At first the ENM will include a staff of 30 people. This number, nevertheless, will extend in the next harmonious years to the development of the projects.

The other $15 million they will be dedicated for the advance of three not metallic projects. And these they are: plan Amazon, located in the province of Napo; Isimanchi, in Zamora and Unacota in Cotopaxi. These they will be pillars that are found in phase of prefactibilidad.

Unacota is being negotiated among the State, the business Cement Chimborazo and with a Portuguese business to conform a strategic alliance that will take charge of its development.

The minister of Mines and Petroleums, Germanic I Paint, revealed, in passed days, that the accounts receivable already signed the ministerial agreement that will permit the conformación of the ENM. This document was signed last July 23 of the year under way and was approved by the former undersecretary of Mines, José Mountain and by the legal undersecretary of the accounts receivable, Jaime Pines.

The agreement, that contains some four articles, arranges the constitution of the business so that intervene in all the phases of the activity mining low conditions of environmental preservation. The company will be conformed in a company of public right with legal personality, gifted, own patrimony of administrative, economic, financial, and budgetary autonomy. (SS)

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