The Minister of Mines and Energy Tomas González and business representatives grouped under the National Business Owners Association (ANDI) in the Caribbean coast have agreed to review the formula and increase in natural gas rates that had been planned for November 30, 2015. It is not the first time that MinMinas has balked on price adjustments due to political outcry.
In an effort to bridge the gap between communities in oil producing regions, the industry and the national government, the National Hydrocarbons Agency (ANH) held a special event called the Knowledge Fair for the Hydrocarbons Territorial Strategy (ETH).
Ecopetrol (NYSE: EC) wins international MAKE award, meanwhile the state oil firm built three new educational centers in Nariño. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
GasThe conflict over natural gas prices on the Caribbean coast took a new turn when Senator Jose Name said he would lead a charge among Caribbean congressional leaders to vote against an eventual peace accord if the government does not ‘resolve’ gas rate hikes.
The former Vice-Minister and of Energy and former president of the National Hydrocarbons Agency (ANH) Orlando Cabrales has spent less time in public eye since leaving his post last year, but recently penned a critical article on the factors that have led Colombia to a shortage of natural gas.
The president of the Colombian Chamber of Oil Goods and Services (Campetrol) Rubén Darío Lizarralde warned attendees at an event in Barrancabermeja that Colombia’s proven reserves are enough to last for only six more years, and the current government strategy will not do much to change that. Ecopetrol (NYSE:EC) then responded.
A community in the Sogamoso Municipality, Boyacá claims that a seismic campaign in 2009 and 2010 has left a number of buildings cracked, including the local church, forcing residents out of their homes and affecting nearly 3,000 people.
The fundamentals are not trending positively and so our readers are not planning for a brighter 2016.
This week “What we think” is really “What you think”. We broke our annual Quick Pulse Survey into two pieces, one addressing our traditional look ahead at 2016 and one addressing what we think is the main government policy issue at this time: incentives to get companies exploring again.
Ecopetrol (NYSE:EC) president Juan Carlos Echeverry has in the past defended what others consider high taxes on oil companies, but in a recent report a national radio chain says he sees the nearly 70% state take as being a barrier to foreign investment, affecting in particular exploration wells.
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