In Putumayo, community and indigenous groups are pushing to keep oil out, citing its environmental effects and position as a Farc target, and also are calling to curb coca eradication programs. Coca production has brought better returns for the community than legitimate crops.
With the Finance Minister Mauricio Cárdenas in the crowd, Senator Iván Duque, of Senator Alvaro Uribe’s Centro Democratico party, leveled a blunt criticism at the government’s handling of the energy and mining sector and the spending plan going forward.
A recent study from the Neiva Chamber of Commerce in Huila found that the fall in oil prices and the shock waves it has sent through the services industry has touched on almost every part of the local economy.
The Huila department royalty budget suffers from peso devaluation and low oil prices, meanwhile a royalty funded project in Casanare includes five new gasification networks. These and other stories in our periodic roundup.
Combine insufficient infrastructure, blockades, attacks and high tax rates with a crude sales price of US$30, which some speculate could be a reality in the near future, and Colombia’s oil business loses all of its shine.
As Ecopetrol (NYSE:EC) slashes its costs in strategy which means new importance for secondary recovery and an efficient costs structure, the NOC could confront a drop in production of 10-15% in the first quarter of 2016.
In the international news section, the current Colombian story is its border dispute with Venezuela. Colombia’s neighbor has ejected several thousand Colombians living near the border and then closed the section in the northeast near Cúcuta to all traffic in either direction.
Analyst’s confession: we think these monthly summaries of key indicators are important for our subscribers, at least to look back at how we got to where we are today.
The USO push for a collective bargaining agreement at Mansarovar Energy has heated up, and its affiliates with the firm have voted to strike.
Non-Armed Forces-reported incidents went up by one this week and that brought the total incident count up by one. However that did not stop the 52-week average from falling to an historic low of 30 incidents per week. This is the safest 52-week period we have seen since starting tracking in 2012.
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