Colombia’s Orinoquia, which includes the oil producing departments of Casanare and Meta, have been left unprotected against economic interests, in particular the hydrocarbons industry, since government views it as an blank slate for whatever activity makes more money, says a group of academics participating in a recent forum.
The governor of Meta, Alan Jara, met with the Minister of Transportation, Cecilia Alvarez Correa, directors from the National Highway Institute (Invías) and representatives from the National Infrastructure Agency (ANI) to define details of a CoP$5T (US$2.6B) highway project being advanced by the central and departmental governments. This and other reports involving Colombia’s roads in the local press.
The Colombian Federation of Bio-fuels (Fedebiocombustibles) published an analysis criticizing government policies that favor hydrocarbons because they look like they were formulated to benefit Ecopetrol (NYSE:EC) and its goals, rather than explore other alternatives like bio-fuels.
We used press reports earlier this week to publish an article on the (supposedly) joint MinMinas / MinAmbiente decree on seismic. Now we have found the original MinAmbiente (only) press release and the draft decree.
Ecopetrol (NYSE:EC) produces 62% of Colombia’s crude so perhaps not surprising that it is the leading producer in almost every major oil department.
The Ministry of Mines and Energy (MinMinas) released fuel prices for the month of June and immediately tried to counter skeptics that would question why the public price of fuel has stayed the same in an election season.
The General Royalty System (SGR) continues into its second year and there is no shortage of critics for the system, but it also has its supporters as well. Over the week a lineup of editorial opinions and press reports have addressed the royalties and the system used to control and award them.
Parex Resources celebrated the “day of oxygen” and donated trees to local communities, while Equion backs woman entrepreneurs and Ecopetrol helps build a classroom. These and other Corporate Responsibility (CSR) stories from Colombian press.
The National Hydrocarbons Agency has published a letter confirming that it has reached an agreement with Pacific Rubiales Energy (TSX:PRE) and will proceed with termination of its concession contract in the Rio Ceibas basin (VSM-13), to the delight of the local community.
Starting at the beginning of May Colombia cut off gas exports to neighboring Venezuela to guarantee a constant supply of the resource considering the El Niño weather phenomenon. Venezuelan authorities are less than pleased and say the decision could impact its supply to Colombia in the future.
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