Ecopetrol CEO Has Confidence in Colombia's Economy, Oil

The video discusses the peace accord between the Colombian government and FARC, and its impact on Colombian businesses, particularly in the energy sector. Carlos Shivery, CEO of Ecopetrol, shares insights on the company's future plans, including production and investment strategies. He emphasizes the importance of balancing production with reserve replacement to ensure sustainability. The discussion also covers the potential positive outcomes if the peace agreement is realized, and the delicate balance required in managing production and reserves for long-term financial stability.

Who is Carlos Shivery and what role does he play in the Colombian energy sector?

• Colombian President

• CEO of Ecopetrol and former finance minister

• Leader of the FARC

• Head of an international oil company

What is the expected production growth for Ecopetrol by 2020?

• From 715,000 to 760,000 barrels per day

• From 800,000 to 900,000 barrels per day

• From 600,000 to 700,000 barrels per day

• From 500,000 to 600,000 barrels per day

How does Ecopetrol plan to manage its reserves while increasing production?

• By reducing production significantly

• By balancing production with exploration

• By importing oil from other countries

• By focusing solely on production

What is the main source of cash for Ecopetrol according to the transcript?

• Exploration activities

• Production activities

• International loans

• Government subsidies

Why is maintaining a balance between production and exploration important for Ecopetrol?

• To focus on short-term profits

• To reduce operational costs

• To increase dependency on foreign oil

• To ensure a steady cash flow and resource replenishment