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Regulations & Policy

Peace Talks Week of May 20: Agreement on land rights looms ahead

The peace process in Colombia awaits a crucial date on Saturday, May 25, when the 9th round of peace talks is scheduled to draw to a close, and according to local paper El Tiempo the issue of land rights should take center stage as a make or break item in the ongoing process. According to the report, a proposed agreement over land rights, and its success or failure, is likely to be revealed this coming Sunday.

Thursday, May 23rd, 2013
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SuperFin wants more info from hydrocarbons and mining projects

Colombia’s financial regulator SuperFin is preparing a set of norms that will regulate the information provided by companies in the hydrocarbon and mining industries for the general public and investors.

Wednesday, May 22nd, 2013
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Minister Renjifo is tired of industry complaints

Minister Renjifo is tired of industry complaints

That was the gist of the message from MinMinas Federico Renjifo in response to a version of the above graph at the CiMinPetrol 2013 congress in Cartagena last week. It had been presented by Raul Espinosa, a Venezuelan economist with a long history of working in the industry, currently at the InterAmerican Development Bank.

Wednesday, May 22nd, 2013
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Senator calls for Ecopetrol to assume Rubiales contract

Senator calls for Ecopetrol to assume Rubiales contract

Colombian Senator Maritza Martínez Aristizábal has tightened her message on the Pacific Rubiales and Ecopetrol relationship, and requested that Ecopetrol assume control of the Rubiales oil field.

Tuesday, May 21st, 2013
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Santos highlights role of oil industry in growth in rosy speech but falls short on substance

Santos highlights role of oil industry in growth in rosy speech but falls short on substance

The Colombian President Juan Manuel Santos addressed the attendees of the International Mining and Petroleum Conference in Cartagena on Wednesday calling a responsible and sustainable mining and oil industry “the main financier of the transformation in Colombia,” but avoided some of the sensitive topics industry leaders and investors wanted to hear.

Thursday, May 16th, 2013
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CAAP releases first ranking of royalty management by department

CAAP releases first ranking of royalty management by department

The Center for Analysis and Public Affairs (CAAP) has presented its first ranking of how well departments are managing royalties –whether direct, indirect, regional compensation, or for science/innovation- as a tool for the public debate surrounding the use of these funds.

Wednesday, May 15th, 2013
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Senator questions relationship with Pacific Rubiales

Colombian Senator Maritza Martínez Aristizábal has questioned the relationship and awarding of contracts between the state and Canadian oil and gas company Pacific Rubiales ahead of senate discussions surrounding a contract with Ecopetrol set to expire in 2016.

Wednesday, May 15th, 2013
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Comptroller says Ecopetrol and Meta Petroleum Corp Court ruling could cost state US$13M

Comptroller says Ecopetrol and Meta Petroleum Corp Court ruling could cost state US$13M

The Quifa/Pacific Rubiales/Ecopetrol story never dies! Now the Comptroller General (a kind of Auditor General) weighs in on the March 13, 2012 ruling to emphasize the difference in current WTI prices versus the historic prices, and therefore the Colombian state risks losing US$13M.From a Comptroller General press release, translated and with commentary by Hydrocarbons Colombia

Tuesday, May 14th, 2013
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Crude oil production above 1Mbd for second month in a row

Crude oil production above 1Mbd for second month in a row

Just in time for the Minister’s speech to the CinMiPetrol conference next week in Cartagena, the Ministry announces a second consecutive month with crude oil production above 1Mbd. April’s number was 1,006,799bd which was below the record 1,013,481bd last month but still above the objective and much better than February’s result.

Wednesday, May 8th, 2013
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Government jump starts royalties project approvals with OCADTONs

Sounding like something from a Transformers movie and merging the acronym ‘OCAD’ (for the initials in Spanish of the boards that approve projects looking for royalty money) and ‘marathon’, the invented word ‘OCADton’ is supposed to reassure local municipalities that the process is working faster in 2013. From a DNP press release, translated and with commentary by Hydrocarbons Colombia.

Wednesday, May 8th, 2013
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