The devaluation of the Colombian peso against the dollar has helped lessen the impact of falling oil prices on company balance sheets as their costs in Colombia drop, but for the government it could have a multi prong effect that will leave its revenues short and increase its debt.
The National Planning Department (DNP) has warned that projects that look for royalty funding will have to be prioritized considering the drop of oil prices and the consequences on royalty payments received by the government. This and other royalty related stories in our periodic wrap.
The Farc’s unilateral truce appears to be holding – despite the strains caused by continued government bombardments – as our measure of guerrilla-initiated incidents fell even though the total count was up one from last week to 28.
Over the last three years the biofuels industry has seen an expansion of its production capacity, now with 14 plants, four of which that have been built in this period.
The USO accused the oil industry and government of attempting to pass industry losses due to the fall of oil prices on to workers.
There is considerable pessimism in the Colombian industry and keeping with the pessimistic theme, we start this month’s edition with the results of our annual pulse survey.
Colombia’s Senate is back in session for 2015 and its first priority involving the hydrocarbons industry is natural gas prices.
Farc commander Rodrigo Londoño Echeverri, alias ‘Timochenko’ criticized the government and called for a transitional process that is applied equally to former guerrilla members and the armed forces.
Crude oil price benchmarks WTI and Brent are not identical so there is a gap. Some think the gap has some physical meaning. Others believe it is tautological: the consequence of different economic forces acting on each benchmark price.
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