The Colombian Petroleum Engineers Association (ACIPET) has been a vocal advocate for rational debate on many of the industry’s social and environmental issues. Late last week they issued this press release on the fracking debate and kindly gave us permission to produce an English translation.
The government pledged to reduce pollution by signing the Paris agreement and ethanol is key in this process. Industry representatives spoke about Colombia’s capacity to meet the new ethanol demand.
The president of the Colombian Natural Gas Association (Naturgas), Orlando Cabrales, proposed a reform to Colombia’s royalty system.
The National Environmental Licensing Authority (ANLA) announced measures on data collection for environmental studies in the extractive sector. The entity said that this positions Colombia as an international example.
The union welcomed the decision of the Ministry of Labor (MinTrabajo), to fine Ecopetrol (NYSE: EC) for an alleged violation of trade union rights.
The NOC is working on improved recovery programs to continue increasing its proven reserves.
Pollution in Colombia’s main cities is increasing, generating several debates about public health policies. Naturgas’ Orlando Cabrales spoke on the issue.
The Comptroller General, Edgardo Maya, asked the Minister of Finance (MinHacienda), Mauricio Cárdenas, to analyze the option of unifying the bank accounts where the resources from the General System of Royalties (SGR) are kept.
Ecopetrol (NYSE: ECP) announced an oil discovery in its CPO-09 block, in the municipality of Guamal (Meta). The NOC has a 55% stake in the project and its partner, Talisman Colombia Oil & Gas, (Repsol) has the remaining working interest.
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