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Take permanent licence to serve liquor, excise department to tell restaurants
Take permanent licence to serve liquor, excise department to tell restaurants

Time of India

time13 hours ago

  • Business
  • Time of India

Take permanent licence to serve liquor, excise department to tell restaurants

Noida: Excise officials in Noida and Ghaziabad have been directed to encourage restaurants and venues using occasional bar licences to shift to permanent licences. Noida issues around 400-500 occasional bar licences every month, while Ghaziabad sees 200-300 of these in the same duration. At a review meeting on Monday, chaired by UP excise commissioner Adarsh Singh at Shakti Sadan Guest House in Noida, officials were directed to encourage eatery owners to make this shift for better revenue collection. "These FL-11 category licences are typically availed by restaurants that do not have the required NOCs from other departments like the local authority or the fire department and hence do not have a permanent bar licence, but want to serve liquor to customers on specific days. Under the new UP excise policy, each occasional licence now costs Rs 33,000 for restaurants and can be issued only for a period of three consecutive days," said GB Nagar district excise officer Subodh Kumar. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida The excise commissioner asked officials to monitor such licences closely and make efforts to convert them into permanent ones, citing regulatory efficiency and better revenue collection. "All excise inspectors must ensure area-wise monitoring of FL-11 licences and encourage eligible establishments to apply for permanent bar licences as per the rules," he said during the meeting. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Compra CFD de Ecopetrol con sólo $200 y empieza a ganar. VICI Undo The cost of a permanent bar licence is Rs 15 lakh per annum. "In cases where there are such restaurants which have NOCs from other departments and still are running on occasional licences to serve liquor, they have been asked to apply for a permanent bar licence," said Rakesh Tripathi, excise inspector in Ghaziabad. Others in attendance at the meeting include the joint excise commissioner of Meerut zone, deputy excise commissioner of Meerut division, district excise officers from GB Nagar and Ghaziabad, assistant excise commissioners posted at distilleries and breweries in Ghaziabad, and excise inspectors from both districts. The commissioner also ordered strict checking of farmhouses located along the Haryana border and directed officials to intensify operations to curb the inflow of illegal liquor from neighbouring states. Officers were told to remain vigilant in border areas and take prompt action against violations. To meet revenue targets, the Commissioner directed officials to maximise liquor supply indents through wholesale licences and district bonds. Enforcement activities are also to be strengthened. Later in the day, the excise commissioner and the GB Nagar district excise officer inspected two new licenced establishments in Sector 43 – the LAB (Low Alcoholic Beverage) Premium Retail Liquor Boulevard (FL-4D) and the MISS NORA restaurant bar (FL-7(1)) in Rcube Monad Mall. In Ghaziabad, the Excise Commissioner visited the Mohan Makin distillery in Mohan Nagar.

Ecopetrol Supports Renewable Energy Portfolio with Full Acquisition of Windpeshi Wind Project
Ecopetrol Supports Renewable Energy Portfolio with Full Acquisition of Windpeshi Wind Project

Yahoo

time2 days ago

  • Business
  • Yahoo

Ecopetrol Supports Renewable Energy Portfolio with Full Acquisition of Windpeshi Wind Project

Ecopetrol (NYSE:EC) is one of the best low priced energy stocks to buy now. On July 8, Ecopetrol announced the completion of its acquisition of full ownership of Compañía Wind Autogeneración, which is the company responsible for the Windpeshi wind project in La Guajira, Colombia. This is a part of Ecopetrol's strategy to expand its renewable energy portfolio and contribute to Colombia's energy transition goals. The Windpeshi project is situated between the municipalities of Uribia and Maicao and will have an installed capacity of 205 MW for wind energy production. Once operational, it is expected to generate an average of 1,006 gigawatt hours/GWh per year, meeting between 8% and 9% of the Ecopetrol Group's total energy demand. The project will feature 41 turbines, each with a capacity of 5 MW. A fleet of tanker ships crossing the sea as they deliver oil and gas to their destinations. Ecopetrol plans to begin construction of the Windpeshi project by the end of 2025, to achieve commercial operations before 2028. This project is anticipated to reduce energy costs for the Ecopetrol Group and advance Colombia's decarbonization efforts. It is estimated to reduce CO₂ emissions by 4.8 million tonnes over its useful life and will involve investments totaling ~$350 million between 2025 and 2027. Ecopetrol (NYSE:EC) is an integrated energy company with 4 segments: Exploration & Production; Transport & Logistics, Refining & Petrochemicals, and Electric Power Transmission & Toll Roads Concessions. While we acknowledge the potential of EC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.

Bomb attack suspends pumping on Colombia's Cano Limon-Covenas pipeline
Bomb attack suspends pumping on Colombia's Cano Limon-Covenas pipeline

Reuters

time2 days ago

  • Reuters

Bomb attack suspends pumping on Colombia's Cano Limon-Covenas pipeline

BOGOTA, July 13 (Reuters) - Colombia's Cano Limon-Covenas Oil Pipeline was bombed by unknown actors, operator Cenit said on Sunday, prompting the suspension of pumping between oil fields in the country's northeast and the Caribbean coast, where the oil is exported. The attack occurred in a rural area of Saravena, in the region of Arauca, according to Cenit, a subsidiary of majority-state-owned oil company Ecopetrol ( opens new tab. There were no injuries or deaths reported. The bombing triggered the activation of a contingency plan to control spills and environmental contamination, said Cenit, which owns the pipeline. Cenit did not attribute the attack to any particular group. According to the military, guerrillas of the National Liberation Army (ELN) and FARC dissidents who rejected a 2016 peace deal with the government operate in the area. The Cano Limon-Covenas pipeline, which can transport up to 210,000 barrels of oil per day and runs along Colombia's northern border with Venezuela, is frequently the target of attacks, some of which cause fires and the contamination of rivers and streams, according to Cenit.

Car owner gets 32.5L refund over 12-year service delay
Car owner gets 32.5L refund over 12-year service delay

Time of India

time7 days ago

  • Automotive
  • Time of India

Car owner gets 32.5L refund over 12-year service delay

Ahmedabad: The Gujarat State Consumer Dispute Redressal Commission has held the Surat dealer of a luxury car brand and its after-sales service provider liable for service deficiency, ordering them to refund Rs 32.50 lakh to a customer. The decision came after his car remained unrepaired for more than 12 years following submersion in seawater. Paresh Panjabi, a Surat resident, bought the car for Rs 38 lakh in Nov 2012. The vehicle got stuck in mud during a family trip to Suvali Beach in Jan 2013 and later submerged in seawater due to delayed assistance from the car maker's service provider. Despite repeated calls for help, the service response was inadequate and came too late to prevent the car from submerging. The vehicle was eventually recovered with assistance from local residents but has since remained at the service centre without repairs. The service centre estimated the repair cost at Rs 55 lakh, and the insurer repudiated his claim, saying the car was stuck because of his negligence. Panjabi approached the consumer commission against the local car dealer, service provider and the insurer, alleging a defective product, misrepresentation about the car's off-road capabilities, and failure to provide adequate post-sale service. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Compra CFD de Ecopetrol con sólo $200 y empieza a ganar. VICI Undo He claimed that the luxury car brand used to advertise this model as tough and efficient for off-roading activities. Following prolonged hearings, the commission ruled that there was no question of a manufacturing defect in the vehicle and upheld the insurance company's position. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad The commission criticized the service agency, stating, "The service agency has made tall claims about its services to customers. But when it was needed, they could not help the complainant pull out the car from the mud, and they tried to disown liability because the complainant drove the car on a muddy beach contrary to statutory warning." It slammed the service agency for inflating the repair costs to profit from the complainant's loss, calling it unethical and profit-driven. It said that the loss could have been minimized with timely action, but Respondent No 2 (service agency) "is guilty of deficiency in service". The commission further said that since the car is lying with the service centre for repairs and "by this time it must have been converted into debris". It directed the dealer and the service centre to retain the car and pay the bill amount of Rs 32.50 lakh to Panjabi as compensation for deficiency in service.

U.S.-Colombia Diplomatic Clash Rattles Energy and Mining Stocks
U.S.-Colombia Diplomatic Clash Rattles Energy and Mining Stocks

Yahoo

time08-07-2025

  • Business
  • Yahoo

U.S.-Colombia Diplomatic Clash Rattles Energy and Mining Stocks

The bilateral relationship between the U.S. and Colombia has continued to worsen, with both countries recalling their top diplomats last week amid an alleged plot against Colombia's President Gustavo Petro. Washington acted first, recalling charge d'affaires John McNamara on Thursday, with State Department spokesperson Tammy Bruce saying the move was taken 'following baseless and reprehensible statements from the highest levels of the government of Colombia.' Hours later, President Petro announced he was calling home ambassador Daniel Garcia-Pena over the deteriorating relationship between the two countries. Previously, Petro claimed that the U.S. extreme right collaborated with drug traffickers in a coup plot against him, before later downplaying the direct involvement of the U.S. government. Washington responded by threatening to decertify Colombia, blaming Petro's left-wing administration for Colombia's record-high coca cultivation and cocaine production. Colombia's energy and mining sectors are susceptible to direct sanctions or operational disruptions, with a decertification likely to trigger a huge selloff. Colombia is the United States' third-largest Latin American trade partner after Mexico and Brazil, with bilateral trade between the two nations approaching $35 billion. Interestingly, Colombian and Latin American equities have been some of the best-performing in the current year, with the Global X MSCI Colombia ETF (NYSEARCA:COLO) returning 27.9% in the year-to-date while iShares Latin America 40 ETF (NYSEARCA:ILF) has gained 25.1%, both outperforming the S&P 500 which has returned 5.7% YTD. Colombia's state-owned oil and gas giant, Ecopetrol S.A. (NYSE:EC), is among the companies facing the highest risk amid the ongoing diplomatic tussle. Back in May, Ecopetrol reported a 22% drop in first quarter net profit, citing geopolitical tensions, Trump's tariff threats and a slowing economy in China. The company said it would cut its FY 2025 spending by ~$500M to $5.9B-$6.8B amid a difficult macro environment. The company relies heavily on U.S. technology and export markets, and a decertification/sanctions might restrict its ability to sell to American relations between the two countries could induce capital flight by foreign investors, forcing the company to turn to more expensive alternatives. Further, Ecopetrol has partnered with multiple U.S. energy companies, putting these deals at risk. Notably, the company has formed a joint venture with Occidental Petroleum (NYSE:OXY) in the Permian Basin as it tries to gain exposure to the shale sector. Ecopetrol also holds participation interests in various projects operated by U.S. companies including Anadarko, Repsol (OTCQX:REPPY) and Shell (NYSE:SHEL), Stone Energy, Noble Energy (NYSE:NE) and Murphy Oil (NYSE:MUR). EC stock has returned 12.2% in the year-to-date However, Colombia could lower its future dependence on U.S. energy markets. Whereas U.S. sanctions against Venezuela have provided a boost to its oil exports, the Petro administration's aggressive push for renewable energy could lower its reliance on traditional energy partnerships. Indeed, Ecopetrol has gone on a clean energy buying spree, buying 10 solar and wind energy projects from Norway's Statkraft in May and the Windpeshi wind power project from Enel (OTCPK:ENLAY) in July. Colombia's coal sector could face similar headwinds. In 2022, Colombia was the largest source of U.S. coal imports, accounting for 64% of the total, or approximately 4.04 million short tons. The U.S. imports steam coal for electricity generation, and metallurgical coal for steel production. In 2022, steam coal accounted for three-quarters of total U.S. coal imports. However, environmental pressures coupled with cheaper U.S. natural gas have been weakening demand for Colombia's coal with the Biden administration's climate policies prioritizing a reduction in fossil fuel imports. A protracted diplomatic rift between the two countries as well as Petro's pro-renewables stance is likely to further accelerate the shift. Colombia's mining sector is likely to start feeling the heat, too. Publicly-traded companies like Mineros de Colombia (TSX:MSA:CA) and Colmetal rely on U.S. demand for minerals like coal, nickel and gold. Mineros shares have been flying, gaining 70.8% YTD as the company continues to expand gold production aggressively. Gold prices have jumped nearly 40% over the past year to $3,310 per ounce on Monday, close to an all-time high. Gold prices are rallying due to a combination of factors, including increased geopolitical tensions, economic uncertainty, and expectations of lower interest rates. These factors are driving investors towards safe-haven assets like gold, pushing prices higher. By Alex Kimani for More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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