Despite a unilateral truce by the Farc to respect the presidential election, incidents near areas of interest to the oil and gas industry were up again to 40, above recent and long-term averages.
The Minister of Mines and Energy Amylkar Acosta championed the role of the mining-energy sector in bringing foreign direct investment (FDI) to the country, even though there are signs that it has decreased, while President Juan Manuel Santos attributed the growth to his administration.
Members of the Civic Committee in Defense of the Las Ceibas Riverbasin will take their cause to the State Council in order to annul an E&P contract held by a subsidiary of Pacific Rubiales Energy (TSX:PRE), despite confirmations from the company and government that the E&P work will not go forward.
With a matter of days before the first round of Presidential elections, Farc and government negotiators announced that they have finally reached an agreement on the third agenda point: the illegal drug trade.
The top 6 producers represented 87% of Colombian production in 4Q13 but it would be wrong to think that they all have their production in the same departments.
After a seven year dispute and hours before a government mandated deadline, miners Drummond and Carrejón have reached an agreement to proceed with the extraction of methane gas associated with a coal deposit in La Guajira.
The reform of the system to distribute royalties from oil and mining have been detrimental to producing regions, forcing them to deal with the environmental and infrastructure issues create by the industries but without the benefit of royalty income, said the Minister of Mines and Energy Amylkar Acosta.
Ecopetrol (NYSE:EC) has released contracting figures for the first quarter of 2014, when the Company contracted 41% more in value terms compared to the same period last year. Bogotá based companies continue to have a greater share of the NOC contracts.
Colombia’s Defense Minister Juan Carlos Pinzón said that thanks to taxes on the mining and oil sectors the country has been able to strengthen its military capacity in three specific areas: equipment and overall capacity, well-being and moral as well as its legal foundations.
The Colombia Canada Chamber of Commerce held its most important academic event recently and while the oil and gas sector was not supposed to be featured this year, there turned out to be much back and forth between industry and government representatives.
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