The oil sector has proposed to develop unconventional projects as the main solution to guarantee energy self-sufficiency in the long term. Maria Fernanda Suarez, Minister of Mines and Energy (MinMinas), spoke on this topic.
The National Development Plan (PND) states that the government can sell its shares in public companies, as a way to cover the fiscal gap. As controversial as it is, selling part of the NOC’s shares is on top of the authorities’ list.
The Colombian oil sector faced tough times due to low oil prices and social conflict, but the industry managed to overcome this challenges and it is recovering lost ground. The Ministry of Mines and Energy (MinMinas) and the National Hydrocarbons Agency (ANH) reported Colombia oil and gas reserves in 2018, with positive results in term of oil, but there are concerns about the behavior of natural gas reserves.
Acipet, the petroleum engineers’ association has been an important voice in defense of the industry’s interests. Here, the organization’s Chairman of the Board, Carlos Alberto Leal Niño, argues that the important work of transitioning away from fossil fuels in the future should be financed by developing the country’s hydrocarbons today.