CEO Felipe Bayón acknowledged the importance of better oil prices for the development of the NOC’s projects.
The debate over gas subsidies continues. Here is what Colombia’s Propane Association (Gasnova) and the Association of Natural Gas (Naturgas) have to say.
The extractive sector has to face many challenges to operate in Colombia, but the lack of legal security has become one of the main problems for this industry.
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.
The oil sector has proposed the development of unconventional reservoirs to improve the prospects for energy self-sufficiency in the long term in Colombia. Fedesarrollo conducted a study on the possible economic benefits of this alternative for the country.
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