The low levels of oil and gas reserves have generated concerns in Colombia and the lack of exploratory activity has increased these worries. María Fernanda Suarez, Minister of Mines and Energy (MinMinas) spoke about the government’s plans for the industry and its future.
Oil prices have decreased considerably in recent months, generating concerns in the sector. The Organization of Petroleum Producing Countries (OPEC) agreed to reduce its production to counteract this situation, which could benefit the country.
The oil sector continues to insist on the development of unconventional projects in Colombia to increase oil and gas production and reserves in the medium and long term. Francisco José Lloreda, President of the Colombian Petroleum Association (ACP) spoke on this subject and other relevant issues for the industry.
The Vice Minister of Mines and Energy (MinMinas), Carolina Rojas, took the stage of the VIII Canada – Colombia Forum to talk about royalties, communities and the mining industry. We attended so our Bottom-Line goes beyond the MinMinas press releases.