In a visit that included the Casanare governor Marco Tulio Ruíz, the royalty investment coordinator of the National Planning Department Camilo Lloreda made a visit to different projects that have been funded by royalties, and said he was left with “a very good impression”.
A study that included 105 companies in the Barrancabermeja and surrounding region found that there has been an increase in local hiring in general, with residents filling 76% of the positions in various industries.
Parex Resources (TSX:PXT) narrowed its net loss in the first quarter of 2015, and registered production above its projections for the period.
Responding to a report from the Ministry of Mines and Energy (MinMinas) think tank UPME which criticized subsidy support and tax breaks for biofuels, the industry association Fedebiocombustible responded, defending the use of ethanol and biofuel mixtures and rejecting the notion that it receives such benefits.
The Meta Department government has frozen more than half of its planned spending on projects that were to be funded by royalties as it prepares for a significant decrease in royalty funds in the next years. This and other stories in our periodic roundup of royalty related issues.
Incident counts were down to 28 but non-Armed Forces reported incidents were up so the decrease was due to less Army reporting.
Ecopetrol’s (NYSE:EC) Colombian Petroleum Institute (ICP) former employees who lost their worker contracts back in February wrote an open letter to Ecopetrol president Juan Carlos Echeverry, charging that the NOC has been violating the law by outsourcing labor.
Canacol Energy (TSX:CNE) has announced its 2015 Capex plan which includes an investment of US$84M for its operations in Colombia and Ecuador. Due to uncertainty on the price of crude, the firm says it has focused on its gas reserves, and expects 60% of its production immune to fluctuations in the price of crude .
Promigas president Antonio Celia believes that there is commitment from the government to make gas infrastructure licensing more agile, but the system does not fully consider the cost of delays in licensing, considering the loss in royalties, investment, job creation, gas availability and gas rates.
The Farc attack in mid-April has eroded public support to its lowest point since the start of the peace process in November 2012, a Gallup poll has found.
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