The Senate’s Fifth Commission will soon decide on three projects that could potentially ban fracking in Colombia. Industry experts spoke about what could happen if authorities close the doors to unconventional resources.
Iván Duque, President of Colombia, inaugurated the First Oil and Gas Summit: 100 years promoting the development of Colombia. HCC was present at the event and we bring a brief summary of the meeting.
Cundinamarca’s Administrative Court admitted a lawsuitthat seeks to annul the Pacific Regasification Plant project.
Colombia’s Natural Gas Association (Naturgas) spoke about the effects of the State Council’s decision to suspend existing fracking regulation.
During the political control debate that took place in Senate’s Fourth Commission, Senator and president of that Commission, Nicolás Pérez, spoke about Ecopetrol’s (NYSE: EC) assets and Colombia’s finances.
Late Friday afternoon, the State Council issued a decision suspending existing fracking regulation. Recent governments have denied there was any regulation on fracking so it is not clear what the implications might be, nor is it clear what impact this might have on Ecopetrol’s (NYSE:EC) proposed trial.
The non-public oil sector proposed pilot fracking projects in the Magdalena Medio Valley (VMM) to show Colombians that these projects could be developed in a friendly way with the environment. However, the National Agency of Environmental Licenses (ANLA) decided against this alternative.
The Minister of Mines and Energy (MinMinas) announced that 10 experts will define the future of fracking in Colombia. We looked at who was appointed, what might be known about their pre-conceptions and what the implications might be.
The oil sector has invested large amounts to improve its operations and be more efficient. The oil transport has not been left behind and the industry is betting on the technological improvements to achieve economic benefits.