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CEO Felipe Bayón explained how the company plans to achieve its ambitious goals in the gas sector.

The Colombian oil sector has started 2019 with good news in terms of alliances, new contracts and now production. The Colombian Petroleum Association (ACP) said that oil production in the country is growing, surpassing neighboring countries such as Venezuela.

The Commission of Experts published its final verdict on fracking, and the debate around this topic is starting to finally make sense. Here is why.

The Colombian government announced the royalties budget for the 2019-2020 period with a historic figure of CoP$24T. However, the “real” value could be larger, due to a recent adjustment by the Ministry of Finance (MinHacienda).

Bio D, a company that has been working in the production of palm biodiesel for the past 11 years, spoke about its plan to mitigate pollution problems in the country.

Astrid Álvarez, President of the Bogotá Energy Group (GEB), spoke about the potential for gas in the country, its environmental benefits and the need to increase natural gas production.

The government announced modifications to the General System of Royalties (SGR), aimed at making oil revenues more efficient, both in producing and in non-producing regions.

Canacol Energy (TSX: CNE) is betting on the natural gas business, becoming the main private operator of this fuel in Colombia. The company plans to go beyond the production and exploration of natural gas. Charle Gamba, CEO of CNE, spoke about the firm’s plans.

Not only Ecopetrol (NYSE:EC), but ExxonMobil (NYSE:XOM) and ConocoPhillips (NYSE: COP) want to develop fracking pilot projects in Colombia.

The oil sector has been announcing agreements and alliances in recent weeks with the aim of reactivating the exploratory activity in the country. Ecopetrol (NYSE: EC) and Repsol (MSE: REP) will develop a new offshore project in the Caribean coast.