Delegations from Colombia, Ecuador, Mexico, and Venezuela
are meeting
today in Quito to establish a united front in response to the total collapse of
global oil prices. The countries hope to agree on a proposal that Ecuador can
present at the forthcoming OPEC meeting on April 17 in Doha, Qatar. The
countries have already scheduled
a press conference for later this afternoon, so it is likely that the bulk of
an agreement was worked out in March when Ecuador’s oil minister traveled around
the region meeting with officials from the involved countries.
In other oil-related news, Colombian state-owned oil company
Ecopetrol auctioned
off part of its stake in the electric company ISA, raising $122 million in
funds. The report noted that this is just the latest step in Ecopetrol’s plan
to divest itself of non-essential assets to fund its investment plan. According
to a statement issued by Ecopetrol, the oil company plans to auction off the
remainder of its 5.32% stake in ISA in the coming days.
In news related to illegal mining, Colombian police detained
14 illegal miners accused
of polluting and drying up the Sambingo River. The Colombian National Police
said in a press release that, “The detained have a large environmental debt with
Colombia. There is evidence against them that they are responsible for drying
the Sambingo River, the first time this has happened in the country.”
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