Through a joint effort between the Ministry of Mines and Energy (MinMinas) and the Ministry of Environment (MinAmbiente), a new process including additional requirements will be required for companies to perform seismic tests for exploration.
The USO and Ecopetrol have taken another step towards the negotiation of a new collective bargaining agreement after formally resigning from the current, standing agreement.
One week after incumbent President Juan Manuel Santos was shocked by a first round defeat to Uribist candidate Oscar Ivan Zuluaga, incidents near areas of interest to the oil and gas industry were down to 33, below recent but above long-term averages.
Royalty reform or rather counter-reformation is the subject of a long article this month partly because MinMinas Acosta brought it up but mostly because we believe that the current system is the cause of much community conflict.
Rainfalls have fell short of expectations to keep hydro-energy on at full, but authorities say that the energy is well shielded against issues that could cause supply shortages, mainly due to a strong supply of gas. However generators do not want to see gas exports to Venezuela resume just yet.
Criticism of the General Royalty System has not stopped the National Planning Department (DNP) director from promoting its impact and future, the head of the DNP royalties department visits to inspect projects in Casanare and a VP candidate lashes out at a event after receiving questions about the royalty issue. These stories in our roundup of royalty related events and reports.
Ecopetrol (NYSE:EC) has unveiled a US$12.8M water injection plant in Huila that it hopes will help keep its production numbers up in the Dina Terciarios field.
Óscar Iván Zuluaga’s win on Sunday, May 25 over incumbent President Juan Manuel Santos in the first election round has positioned the peace talks as the defining topic for the second presidential round coming on June 15th.
GasThe Ministry of Mines and Energy Amylkar Acosta welcomed the announcement of a US$249M gas recovery program being implemented jointly by Ecopetrol (NYSE:EC) and Chevron (NYSE:CVX) that he says will extend Colombia’s gas reserves by eight years.
Ecopetrol (NYSE:EC) gave explanations as to why it would not sign an agreement with Casanare transportation companies that covered local hiring practices, which has been discussed with the NOC participation over the last two years. This and other press reports involving roadways and the oil industry
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