News and AnalysIs for

The Colombian government failed to meet its oil production target for 2016 (what a surprise). The Ministry of Mines and Energy (MinMinas) reported data for December and the annual average extraction in the country.

German Espinoza was appointed as the new executive president by the Colombian Chamber of Petroleum Goods and Services’ (Campetrol) Board of Directors and will assume office on February 1^st, 2017.

The Colombian Petroleum Engineers Association (ACIPET) has a new board and elected Julio Cesar Vera Díaz as the new Chairman. Acipet published an interview with Vera Díaz and we bring a brief summary of it.

After months of speculation, seems like negotiations between the Government and the ELN will start on February 7 in Quito, Ecuador, five days after the ELN releases former congressman Odín Sánchez.

Although at the beginning of this year the National Government raised gasoline prices because of the new ‘Green Tax’, Colombia has one of the lowest prices in South America, according to data from Global Petrol Prices.

Oil production will continue to fall. The National Government estimated it for the financial plan for 2017 and some days ago, Mauricio Cárdenas, Minister of Finance, presented this plan.

According to the most recent audit report from the General Comptroller, royalties left by oil production and extraction in Colombia were not used in the best way by 17 departments and 22 municipalities.

Ecopetrol and Putumayo’s Chamber of Commerce invested to improve competitiveness in science and technology and Bancoldex and Norte de Santander’s tourism sector are rehabilitating fuel smugglers. These and other Corporate Social Responsibility (CSR) projects in our periodic summary.

The panorama presented by the Regional Economic Bulletin (BER) for the departments of Meta, Casanare, Amazonas, Guainía, Guaviare, Vaupés and Vichada, corresponding to 3Q16 was not very encouraging. 2017 will bring big challenges for Colombia’s southeastern region’s economy.

W Radio reports that the National Agency of Environmental Licensing (ANLA) denied an environmental license to Gran Tierra Energy (TSX: GTE) for exploratory work in Orito, Putumayo.