The Minister of Mines and Energy, Germán Arce Zapata, spoke about the projects of the General System of Royalties (SGR) that were approved in December of 2017 by the Collegiate Organs of Administration and Decision (OCAD), in the session known as ‘odcatón.’ These and other stories in our periodic Royalties summary.
The Ministry of Mines and Energy (MinMinas) reported annual oil and gas production figures in the country for 2017. The entity highlighted that this metric is above the target for the medium-term, but it decreased compared to 2016.
Canacol Energy Ltda. (TSX: CNE) announced successful exploration results in the VIM 5 block in the Lower Magdalena Valley Basin. The oil firm provided information on its 2018 gas exploration and development drilling plans.
Empresas Públicas de Medellín (EPM) said that it is currently in an exploratory stage to evaluate the business, and requested more information from the Superintendent of Industry and Commerce (SIC).
According to a report from the Northeastern Regional Border Autonomous Corporation (Corponor), environmental emergencies tend to increase during December and January.The development of these and more stories in our periodic Eco summary.
La Cira Infantas is the oldest oil field in the country and is located in the department of Santander. This important facility reported a new production record recently.
NOC representatives spoke about the firm’s plans for this year regarding E&P.
Overall, the union gave a positive reporton the bilateral ceasefire between the government and the ELN, but said that the government allegedly breached agreements in regards to humanitarian relief.
Colombia is not an oil country, but its finances depend largely on this industry. The sector crisis affected government finances, but the recovery of crude prices is generating great expectations.
The Colombian Petroleum Association (ACP), the Colombian Chamber of Petroleum Goods and Services (Campetrol) and the Colombian Association of Petroleum Engineers (Acipet), spoke about the attacks perpetrated by the ELN, only hours after the bilateral ceasefire ended.
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