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Local authorities spoke about the city’s progress towards becoming an important offshore operation center in the Caribbean region.

The oil sector is facing difficult times due to the boom of anti-oil referendums. The Colombian Petroleum Association (ACP) published itsE&P Investment Trend Study. The association interviewed 21 presidents of oil companies in Colombia, which represent 97% of crude production.

Ecopetrol (NYSE: EC) wants to start recovering the lost reserves as soon as possible. CEO, Juan Carlos Echeverry, talked about the firms’ prospects for ill-starred block CPO-9.

Colombian oil industry has announced gas discoveries in the Caribbean Sea recently. It increased reserves and several experts are talking about this topic.

The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for June. This metric is growing, despite low prices and social unrest.

Ecopetrol’s (NYSE: EC) president said that the company will focus on the production of shale oil in the Middle Magdalena Valley.

Claudia González, director of the National Environmental Licensing Authority (ANLA) spoke about fracking and delays in decisions for the industry.

The sector is facing a boom of popular referendums, which is creating legal uncertainty among investors. Germán Arce, MinMinas, spoke about the sector and its benefits for country and the department of Meta.

Colombia aims to increase natural gas production and there are many plans to achieve it in the short and medium term. Four companies have gas projects to develop in the Lower Magdalena Valley (VIM) during the next nine months.

The Colombian Chamber of Goods and Services (Campetrol) talked about the potential of unconventional oil deposits in the country and the options to solve the reserves deficit in the short term.