With just a month in his role at the head of the Ministry of Mines and Energy (MinMinas), Tomás González is rumored to be on the verge of announcing a restructuring of his team which will reportedly see the exit of the current Vice Minister Orlando Cabrales, who could head to Ecopetrol (NYSE:EC).
The USO said that after two prior attempts in which they were forced out, the union has made “an official presence” in the Rubiales field, part of an ongoing political campaign to call for the return of the field to full Ecopetrol (NYSE:EC) control in 2016.
In an about face, the government released the draft texts of the three agreements reached thus far with the Farc in Havana, Cuba, in a move to silence critics of the peace process.
President Juan Manuel Santos announced changes to the process of applying for environmental licenses, slashing the time frame to five months, and critics have come out against the modification, arguing that it will weaken environmental protection measures and put the ecosystem at risk.
A request from Colombia’s largest supplier of tubing for the oil industry TuboCaribe to place safeguards and tariffs on some imported tubes has other suppliers and importers calling foul.
The Interior Ministry has signed a series of agreements with Putumayo residents, who have agreed to lift blockades and stop protests that have dogged the region for more than two months. The agreement followed a tentative accord two weeks ago.
The Colombian Association of Engineers (ACIEM) has contracted a study that looks at the hidden costs that are dragging down the potential of not just the hydrocarbons and energy sector, but infrastructure and telecommunications as well.
President Juan Manuel Santos signed the contract to recover navigability on the Magdalena River, which promises to offer a new alternative transport route for hydrocarbons. The ambitious project will see work start in June 2015, and has a price tag of US$600M.
Canacol Energy (TSX: CNE) has reported its Fiscal Year 2014 results (ending June 2014), reporting growth in its proven reserves, production and turning around its bottom line.
GasIndustry and government projections for Colombia’s gas reserves oscillate between worried and optimistic, with supplies lasting for 6 or 14 years, depending on the source.
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