The Central Bank released Foreign Direct Investment (FDI) figures for January 2016, and the fall was nearly 60% compared to the same period last year, affected by more than just energy and mining.
The National Hydrocarbons Agency (ANH) stepped up its position and said that it will sanction Santa María Petroleum, one of several firms accused of delivering false letters of credit to cover contract guarantees for an E&P contract.
The controversy surrounding the Cartagena Refinery (Reficar) has caused a moment of rare consensus across the political spectrum in Colombia’s congress: From the opposition bank of Senator Alvaro Uribe to the left leaning Polo Democratico and those between, all want to see a special session to grill those involved in the project.
Oil companies in Colombia and beyond are starting to see a “significant” loss of labor talent, says a recently published study on the oil and gas labor market from global recruiter Hays.
The president of the Colombian Petroleum Association Francisco José Lloreda made an urgent call for the government to implement five short term and five structural measures to benefit the oil industry, which he says is a critical source of finances for the public budget.
We came across two profiles of recent executive appointments in Colombia which warranted a bit more attention: the arrival of Andrés Acosta as the new president of ExxonMobil (NYSE:XOM) Colombia, and of Felipe Bayón Pardo as Ecopetrol’s (NYSE:EC) COO.
Ecopetrol (NYSE:EC), Equion, and Parex Resources (TSX:PXT) have all been activie in the Llanos, as the new Governor promises to create a space to facilitate dialogue and reduce social conflict. These and other Corporate Social Responsibility (CSR) stories in our periodic roundup.
Services firm Halliburton (NYSE:HAL) had selected a plot of land to build a waste treatment center, but recent zoning changes could put it at risk, despite having received a warm welcome from municipal authorities.
The Ministry of Mines and Energy (MinMinas) has received a US$30M loan to improve its management of the sector, royalty control and the information available on the country’s subsoil, while the Finance Ministry received another loan to improve the Controller’s role in Colombia.
The Energy and Gas Regulation Commission (CREG) is charged with regulating the industries with the closest impact on the average consumer, electricity and natural gas, and the markets which supply these services.
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