The National Hydrocarbons Agency (ANH) continues to work on the Permanent Area Assignment Process (PPAA). The agency announced the date and number of blocks for the second auction of this important process.
The State Council denied Ecopetrol’s (NYSE:EC) request to cancel the precautionary measure that stopped the development of fracking in Colombia, but clarified that the decision does not prevent the development of pilot projects.
Authorities and experts spoke about the possible consequences of closing the door to fracking, now that the State Council decided to keep delaying a final decision on the matter.
Two Aramco oil plants in Saudi Arabia were attacked last Saturday generating an immediate effect on oil prices. Experts talked about the effects of this situation in Colombia in the short term.
Mining activities in most of Colombia’s regions could be affected soon. More than 92% of the municipalities that develop mining and oil activities in Colombia do not have their Territorial Organization Plan (POT) updated.
The industry keeps working to prove that fracking can be done in a responsible way, despite the ruling from the State Council that put the measure on hold, again.
Industry experts like the Minister of Mines and Energy (MinEnergia), Maria Fernanda Suarez, spoke on the decision of the State Council to maintain the suspension on fracking.
The Podion Corporation and the Colombia Fracking Free Alliance accused Drummond of contempt of court for an alleged violation of the State Council’s rulings.
The decision of the State Council to maintain the suspension on fracking generated many reactions in the country. Government leaders and industry experts talked about this decision.
Maybe we should not have been so hopeful. Maybe this was always doomed. It is always easier to say ‘No’ than take a chance on ‘Yes’. No one ever knows the consequences of saying ‘No’, the road not taken.
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