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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 Sep 07, 2009 1:28pm
359 Views
Post# 16284145

Correa to sign final regulations

Correa to sign final regulationsthis week or next per La Hora- Quito, Ecuador. The article is dated Sept 5 and the President's signature is expected within 15 days. The MMP's attorney's are reviewing the final draft to avoid any possibility for misinterpretation or conflict with other regulations.

https://www.lahora.com.ec/frontEnd/main.php?idSeccion=927922

2009-09-05 17:47:36
Nacional
Reglamento minero en últimas observaciones

La asesoría jurídica del Ministerio de Minas y Petróleos revisa las últimas reconsideraciones realizadas por el Gobierno al texto de Reglamento Minero, que posibilitará la reanudación de las actividades de exploración y explotación.

El documento final será firmado por la Presidencia de la República y presentado en los próximos 15 días. Por su lado la dirigencia de los gremios de Minería reiteró su cuestionamiento a la actitud del Gobierno por el poco interés mostrado en la atención a la actividad minera.

Marco Reyes, presidente de la Cámara Nacional de Minería, mostró su inquietud por el retraso prolongado en la entrega del marco legal para reiniciar las operaciones.

“Estamos esperando para saber cuál es el camino que tenemos que recorrer para hacer minería en el país”, comentó.

Otros cambios
Además criticó que, a pesar que el Ministerio de Minas y Petróleos derogó el acuerdo ministerial 074, que disponía la restitución al Estado de las áreas donde se invirtió en estudios para proyectos mineros.

Dijo que en lugar de ello se han suscrito otros acuerdos que le dan luz verde a la acción estatal para revisar una por una las concesiones mineras. El tema fue defendido en días anteriores por el ministro Germánico Pinto, quien señaló que las reformas al acuerdo 074, suscritas en los 083 y084, contienen procedimientos claros, precisos y cuentan con los debidos respaldos técnicos y legales.

Mientras que César Espinosa, presidente de la Cámara de Minería del Ecuador, dijo que la preocupación en el sector se mantiene y esperan un diálogo con el ministro Germánico Pinto, quien ofreció el texto minero para el presente mes.

Las empresas mineras Kinross-Aurelian, I am Gold, Ecuacorrientes S.A, y otras que realizan mediana minería también están con expectativa de inversiones en el país.

-END-

translation>>

Mining regulation in last observations

The legal advising of the Department of Mines and Petroleums revises the last reconsiderations carried out by the Government to the text of Mining Regulation, that will enable the resumption of the activities of exploration and exploitation.

The final document will be signed by the Presidency of the Republic and presented in the next 15 days. By its side the leadership of the guilds of mining Industry reiterated its questioning to the attitude of the Government by the little interest shown in the attention to the mining activity.

Framework Kings, president of the National Camera of mining Industry, showed its anxiety by the delay prolonged in the delivery of the legal framework to resume the operations.

"We are expecting to know which is the road that we have to travel through for do mining industry in the country",
commented.

Other changes
Besides criticized that, to weigh that the Department of Mines and Petroleums abrogated the ministerial agreement 074, that arranged the restitution to the State of the areas where was invested in studies for mining projects.

It said that instead of it other agreements have been subscribed that give green light to the state action to revise a by a the mining concessions. The theme was defended in previous days by the Germanic minister I Paint, who indicated that the reforms to the agreement 074, subscribed in the 083 y084, they contain precise, clear procedures and they include the duties legal and technical endorsements.

While Caesar Thorny, president of the Camera of mining Industry of the Equator, said that the worry in the sector is maintained and they expect a dialogue with the Germanic minister I Paint, who offered the mining text for the present month.

The mining businesses Kinross-Aurelian, I am Gold, Ecuacorrientes S.TO, and other that carry out median mining industry also they are with expectation of investments in the country.

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