News and AnalysIs for

During the National Congress of Municipalities, mayors asked the National Planning Department (DNP) to eliminate the Collegiate Organs of Administration and Decision (OCAD).

USO celebrated the Union’s new facilities in Sabana de Torres, reiterated its member strength, and called Ecopetrol’s (NYSE:EC) CEO Juan Carlos Echeverry to answer several questions regarding the ‘Reficar scandal,’ in an assembly that will take place next week.

Ecopetrol (NYSE: EC) announced that it has found oil in the municipality of Rionegro (Santander). The company said that the well has a strategic position, suggesting more is to come.

Cajamarca is a small city of about 19,000 people, southwest of Bogotá on one of the few ‘easily’-driven mountain passes crossing the Central Cordillera.

Costs were up in 4Q16 so despite higher prices, the average crude oil netback for publicly-listed reporting companies was down slightly in the quarter.

Foreign Direct Investment (FDI) in oil sector reported an increase in 4Q16. However, these figures remain very small compared to previous years. The sector’s contribution went up in the quarter but still down on an annual basis and it is too soon to tell if this is a reversal of trend or a blip.

Prospects for this year are positive in the gas sector. Colombia will reactivate exploration especially in offshore fields. The industry will make large investments in E&P and infrastructure.

The Corporate Reputation Business Monitor (Merco) and the Department for Social Prosperity (DPS) ranked the companies most-committed to social investment in Colombia. Pacific (TSX:PEN) was the industry’s leader on the list, at number 15.

This week marks 100 days of the signing of the peace agreements between the government and Farc. During this time, its implementation has had more delays than progress. This is a brief recap of what has happened.

Comptroller General, Edgardo Maya gave new details on the opening of a chicken broiler and a spa with royalties destined for the Cauca Science, Technology and Innovation Fund, and projects financed with the General System of Royalties’ (SGR) budget were approved in Meta, Putumayo and Guajira. These and other stories in our Royalties periodic summary.