The administrators of Colombia’s General Royalties System (SGR) hosted planning secretaries from the country’s departmental governments to discuss the accomplishments of the new royalty system in its first year and talk about its reach looking forward.
Natural gas producer and distributor Madigas says it will invest COL9B (US$4.77M) throughout Colombia this year with around COL4.5B of it focused in the Caldas Department.
Rural communities in Tibú, located in the Santander Norte department have erected barricades and organized protests which have 90% of Ecopetrol’s oil drilling and extraction activities stopped.
A Supreme Court ruling against the USO regarding the union’s role in a 2011 strike involving a contractor, CBI, in the Reficar oil field signals a “destructive judicial precedent for the union fight in Colombia,” the USO said.
Security and Public OrderCounts were back down to 31 below recent and long-term averages. This was a below average week for guerrilla-initiated actions as well which means everyone took the week off.
For each peso that Ecoperol invests in its Colombian Petroleum Institute (ICP), an in-house entity geared towards research and development of new technologies, the firm receives six times the amount in savings or earnings.
The Villavicencio Chamber of Commerce (CCV) will create a mechanism to resolve payment disputes between local suppliers and Ecopetrol contractors and monitor payments from the oil producer to its direct contractors.
Government and Farc negotiators resumed talks in Havana this week, as the focus now moves past the land reform deal into new fronts, with a constant hum of politics and controversy as a backdrop along with constant positioning ahead of next year’s elections.
The total value of fuel and products derived from extraction in Colombia dropped 12% in the first quarter of 2013 to US$12.52B from US$14.23B a year ago, pushing Colombian exports as a whole to drop 7.3% in that period.
Road blockades in the communities of Cumaral, Acacías, Puerto Lópex and Villavicencio have blocked truck routes used to transport crude with protestors calling for the government to remove the heavy vehicles passing through the area.
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