Thursday, October 18th, 2018
The Ministry of Mines and Energy (MinMinas) reported oil and gas production figures for September 2018. Crude increased slightly compared to the same period of last year, and gas showed positive behavior as well.
Colombia continues talking about the possibility of developing unconventional projects via the hydraulic fracturing technique (fracking). The Colombian petroleum workers (USO) spoke about this alternative and its potential in some municipalities of the country.
Last week, the Constitutional Court revoked the popular consultation (referendum) that took place in the municipality of Cumaral (Meta), in June 2016. Experts debated the matter.
The increase in oil prices has generated high expectations in Colombia due to its economic benefits for the country’s public finances. The government is working on alternatives to take advantage of this situation.
Ecopetrol (NYSE:EC) announced important investments for environmental projects, but communities are still hesitant about the industry’s presence in their territories. The development of these and more stories in our periodic ECO summary.
The government’s ‘magic formula’ to establish fuel prices has created much debate and controversies in Colombia. Representatives of the Liberal Political Party spoke on this subject.
Communities have said ‘No’ to the industry in different occasions, but once local authorities heard of a possible increase in royalties’ resources, popular consultations started to seem ‘inconvenient,’ all of a sudden.
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