Even though the Farc has backed off and not attacked any pipelines since the start of its July 20 truce, the Coveñas/Caño Limón Pipeline (CCL) has suffered in the month of August due to the attacks over the last two months.
The Ministry of Mines and Energy (MinMinas) has approved three more measures to promote exploration and production and confront the fall in oil prices. The Agreement 03 is part of its “PIPE” stimulus for the industry.
‘The Mad Economist’ is the nom-de-plume of Camilo Vega Barbosa, Director of the economic blog El Mal Economista (EME). (See his coordinates at the end of the article.)
Clients ask us for quick graphs from our statistical databases for their presentations or other studies. (You can too!) Having done a number of these lately, it struck our Analyst that the peaks all occurred at the same time (roughly) 2012.
During a meeting of the Supreme Court in Cartagena, the chief negotiator in Havana, Humberto de la Calle, said the government is preparing a rough draft of a referendum that would let,”Colombians decide”.
As the government concedes that maintaining a million barrels a day will prove increasingly difficult, the Finance Minister Mauricio Cardenas says projected oil revenue for 2016 could be six times lower than in 2014.
Research institute Fedesarrollo has issued an alert on the long term impact on the fiscal budget due to the fall in oil prices and a likely drop in oil production, with the deficit growing wider than legal limits by 2019.
The mayors of Ortega, Purificación and Melgar in Tolima joined to vent their shared concerns on royalty distribution and expedited environmental licenses issued by the National Environmental Licensing Agency (ANLA).
A monitoring tool for the general public Maparregalías has been unveiled, and it offers a window into CoP$16.8T (US$5.5B) in royalty resources that have been approved for projects in the first half of 2015, meanwhile a report reveals inefficiency in royalty project execution. These and other stories in our periodic roundup.
Repeatedly cited as one of the drawbacks for the industry, the government announced a new framework for environmental licensing, and the Chamber of Oil Goods and Services (Campetrol) found that the proportion of licenses approved versus those filed has changed since the last year.
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