The sector has announced several gas discoveries in the Caribbean Sea in recent months. Colombia wants to seize the offshore opportunities but it also wants to be ready for the challenges that this represents.
ProductionColombia has more than 400 oil fields, but just a few produce the majority of Colombian oil.
Vice minister of Environment Carlos Botero, said that fracking activities are not taking place in the country. Environmentalists say the opposite.
The Colombian government wants to change the General System of Royalties (SGR) to finance the post-conflict. Mauricio Cárdenas, Minister of Finance, discussed the proposals but local leaders and academics, among others, are against it.
The ELN attacked the Coveñas Caño Limón pipeline three times during the past couple of months, generating irreparable damage in Norte de Santander’s rural municipalities. Ecopetrol (NYSE:EC) says it responded to the incidents in a timely manner. The development of these and other stories in our periodic Eco Summary.
Antonio Sanclemente, Partner of the law firm Sanclemente Fernández Abogados (SFA), talked about the oil sector and its perspectives in an interview with Portafolio.
The controversy about possible modifications to the General System of Royalties (SGR) continues. While academics and regional authorities reject the idea of allocating part of the royalties’ budget to finance ‘peace projects’, the government says that the proposal is in line with what the country is going through. These and other stories in our Royalties periodic summary.
Representatives of the 13 countries of the Operational Network for Regional Cooperation of Maritime Authorities of the Americas (Rocram) participated in a workshop about the implementation of anti-pollution treaties.
Pacific Exploration & Production (TSX: PEN) reported its 1Q17 results highlighting that it is on the right path to improve the firm´s performance. Pacific net production increased compared to previous quarter.
Ecopetrol (NYSE:EC) announced “the largest gas discovery found in the last 28 years in Colombian territory,” but the announcement just might be larger than the importance of the discovery itself.
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