The Constitutional Court issued a ruling that eliminated a law which prohibited territorial authorities from prohibiting mining projects in their areas, but the Minister of Mines and Energy German Arce insists that it does not mean that extractive projects could be affected.
Led by the Barrancabermeja Mayor’s office and Senator Jorge Robledo, the municipality held a its second “Forum for the Defense of Water and Ecosystems” and charged that fracking is the new threat against Middle Magdalena’s water supply.
The USO has joined a group of unions, NGOs and Senators to create the National Committee for the Defense of Public Assets, and said that the first task would be to take legal action against the president of municipal utility ETB, Jorge Castellanos.
A dispute with a corporation of community action committees (JACs) in Acacías has led to blockades, threats against workers and even fuel filled bottles being thrown at Ecopetrol’s (NYSE:EC) drilling equipment which is destined for the Chichimene field.
The president of the Colombian Petroleum Association (ACP) made a trip to Bucaramanga and warned that not bolstering the oil industry will bring serious consequences for the future, and argued that indeed, oil is a part of daily life and should be protected.
The government’s royalty intake was 31.3% lower in 2015 than the year prior, falling to CoP$5.3T, and is expected to continue its fall in 2016. The figure, which comes from the National Hydrocarbons Agency (ANH) is the lowest since 2010. This and other royalty related stories in our periodic summary.
The drop in spending, shuttered fields and suspended contracts have left many of the industry’s workers without a job, with estimates running between 40,000-60,000 affected individuals. A Colombian consultant in matters of pensions has some advice for those left without work.
The Association of Colombian Oil Goods and Services (Campetrol) said that at a price of US$34.41/barrel, 92% of Colombia’s producing fields yield a netback. The problem however lies in the high regional costs, blockades and now court decisions which cut into the country’s competitiveness.
Ecopetrol (NYSE:EC) announced a national campaign which looks to recognize projects which are leading the way in innovation and competitiveness in issues that directly affect oil producing regions. This and other stories related to Corporate Social Responsibility in our periodic summary.
The Constitutional Court has suspended another project after it ordered the immediate suspension of the construction of a gas pipeline in the Pascacaballos settlement near Cartagena, and ordered the project to hold a prior consultation process with several local groups.
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