The General Controller has warned certain ministries are not effectively executing their assigned budget, including the Ministry of Mines and Energy (MinMinas), a claim which the ministry denied.
The director of the National Agency of Environmental Licenses (ANLA) addressed the Chamber of Representative’s Second Commission and laid out the mission of the entity and its role in the government.
The Ministry of Mines and Energy (MinMinas) has injected a total of CoP$59.9B (US$20.5M) into projects in 69 municipalities through its production incentive program, which awards regions for meeting production goals in 2015. This and other royalty related stories in our periodic summary.
The Colombian Chamber of Oil Goods and Services (Campetrol) warned that recent attacks have targeted oil companies in Caquetá and Putumayo, departments where the Transition Zones of Normalization (ZVTN) are located, and will be used to concentrate the Farc, intensifying its tone against the presence of these camps near oil projects.
Colombia and Peru have received more interest from foreign investors as traditional markets like Brazil and Mexico have been hampered by economic problems. But despite this positive news, Latin America still ranks low as a priority for global investors, according to a recent survey.
The Superintendent of Industry and Commerce has opened an investigation of Ecopetrol (NYSE:EC) and a suppliers association in Meta, based on accusations of forming a cartel to control the production and distribution of construction materials destined for the oil industry.
E&P firm Hocol says that it will drill an exploration well, named “Pegaso”, in the CPO 16 block, located in La Macarena, Meta, near the area where an exploration program of Hupecol caused widespread controversy and a revoked license.
The Ministry of Mines and Energy (MinMinas) has restarted a regionalization program to improve dialogue between the government, industry and communities in five municipalities in Caquetá. This and other Corporate Social Responsibility (CSR) stories in our periodic summary.
A personal reflection the system for distributing royalties from non-renewable resources, to be read (preferably out loud) as a children’s fairy tale with appropriate exaggeration and drama.
Now that all the companies that give us enough data to look at prices have published, we can see how average realized Colombian oil prices performed relative to the two global benchmarks. We also take a look at Vasconia.
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