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Regulations & Policy

Average Colombian Royalties are not 20 percent

Average Colombian Royalties are not 20 percent

It is a stereotype that rolls easily off the tongue: the Colombian royalty rate is 20%. Data from 1Q13 shown above shows that it is not. The bars represent the average royalty rate for the top producing departments (excluding X Factors paid on E&P contracts) and the figures displayed on the bars themselves is average daily production in thousands of barrels per day.

Wednesday, July 24th, 2013
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ANH preparing rules that allow unconventional exploration in areas already assigned

The National Hydrocarbons Agency (ANH) is preparing a campaign to push through regulations that would allow exploration for unconventional reserves in areas that have already received approval for conventional extraction.

Tuesday, July 23rd, 2013
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Pacific Rubiales praises ANLA simplifications, expects approval for new block

Pacific Rubiales CEO Ronald Pantin says that recent changes to simplify environmental licenses will improve its timelines for the environmental permit process in Colombia, which in the short term will lead to approval of a license to operate the CPE-6 block in the Llanos basin.

Wednesday, July 17th, 2013
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DNP says royalty distribution system on track despite critics

The director of the National Planning Department, Mauricio Santa María believes that the long term goals of the new royalties system (SGR) are on track despite a growing chorus of critics questioning its effectiveness.

Wednesday, July 17th, 2013
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Campetrol: Pacific Rubiales as a case for success

Colombia’s Chamber for Petroleum Goods and Services, Campetrol, published a statement written by Pacific Rubiales which outlines the company’s case that it has been a model in terms of development and ideas for how the industry must move forward.

Tuesday, July 16th, 2013
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Naturgas opposes public auction for wholesale gas, says will increase prices

The Natural Gas Association (Naturgas) says that proposed changes that would institute a system of public auctions to set wholesale prices as proposed by Colombia’s Energy Regulatory Commission and Gas – CREG would lead to price increases and opposes the system.

Thursday, July 11th, 2013
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Parex publishes good news for shareholders and the country

Parex publishes good news for shareholders and the country

Parex made a somewhat unusual midyear announcement of its reserves and a more usual announcement of its 2Q13 production. Both stories are very good but the reserves story is spectacular. By the close on Thursday, July 11 2013, the stock was up 17% from its Tuesday close.

Thursday, July 11th, 2013
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Changes to environmental licensing to simplify process in some cases

A decree expected in late July will reportedly shorten the environmental licensing process for small changes to conventional projects that already have gained approval.

Monday, July 8th, 2013
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Delays in licensing cut drill rentals by 8% through May

Delays in licensing cut drill rentals by 8% through May

Delays in environmental licensing are seen as the main cause in an 8% drop in rentals of perforating drills in January-May 2013.

Wednesday, July 3rd, 2013
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Summary of royalty-related news for June 2013

The General Royalty System (SGR) and the National Planning Department (DNP) have issued a string of nearly daily announcements in June detailing advancements and approval of projects that will receive funding using the royalty system.

Tuesday, July 2nd, 2013
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