The Colombian government, led by President Gustavo Petro, is facing criticism for its delay in disbursing funds for subsidies on liquefied petroleum gas (propane), which are essential for low-income families in rural areas.
The National Authority of Environmental Licenses (ANLA) has granted an environmental license for the exploratory offshore oil drilling project in the Col-1 Block, located in Colombia’s Caribbean.
Colombian industrial leader Bruce Mac Master, President of the National Business Association of Colombia (ANDI), voiced strong criticism of the government’s handling of the natural gas supply crisis.
The Government’s financing bill proposes a five-percentage-point increase in the income tax surtax for oil exploration, raising it from 15% to 20%. The Colombian Petroleum and Gas Association (ACP) voiced strong opposition to the proposed increase.
Mario Alberto Huertas, President of MHC Ingeniería y Construcción de Obras Civiles, emphasized the need for better coordination and support from government entities to overcome persistent challenges in infrastructure projects across Bogotá.
A report by Promigas highlights significant findings in Colombia’s hydrocarbon sector, revealing that offshore reserves could be 20 times greater than onshore reserves.
The Ministry of Mines and Energy (MinMinas) recently reported that local gas production is more than sufficient to meet the country’s demand.
The Colombian House of Representatives has approved the General Royalty Budget for 2025-2026.
During his address at the Infrastructure Congress in Cartagena, Colombian President Gustavo Petro highlighted a significant transition in the nation’s economic model, moving away from its long-standing dependence on oil and coal.
Statistically we do not have the final numbers. We do not even have the November numbers. And although we should be getting to the government quiet period for year-end holidays, anything could still happen. But we have a tradition of a “year-end wrap up” before the holidays so we can do our “Fearless Forecasts” in early January.
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