News and AnalysIs for

Environmental lawyer Rodrigo Negrete spoke about the current situation of popular consultations in Colombia, and about the recent judicial decisions that could jeopardize them.

Luis Fernando Mejía, Director of the National Planning Department (DNP), spoke about the General System of Royalties (SGR). He answered the Comptroller General’s concerns.

The Colombian government made a disastrous adjustment to the General Royalty System (SGR) a few years ago, generating social discontent in producing regions. Now, authorities are evaluating whether to carry out a new reform of the SGR.

There was a 50’s game show called ‘Truth or consequences’ and I was reminded of it while reading this week’s announcement on reserves.

Colombia is not an oil country, but the resources generated by the sector are vital for the nation’s economy and public finances. The Government had to tighten the belt in recent years, due to low oil prices, but their recovery is generating relief for Colombian authorities.

The Collegiate Bodies for Administration and Decision (OCAD) spoke about projects that were approved in departments like Casanare and Bolívar, but authorities are still concerned about irregularities in the execution of royalty projects throughout the country. These and other stories in our periodic Royalties summary.

The Colombian Mining Association (ACM) spoke about the sector’s main challenges in Colombia, and asked for a reform to the General Royalty System (SGR).

The development of unconventional projects is the main strategy to increase oil reserves in the short, medium and long term. However, this alternative is resisted or even rejected by many local communities. The business paper La Republica held a forum to talk about this situation.

The Colombian Association of Petroleum Engineers (ACIPET) has been one of the most active groups to defend the sector of anti-oil referendums. The association sent a letter to the Constitutional Court about this issue.

The Center for Economic Studies of the National Association of Financial Institutions (ANIF) spoke about the industry’s situation in 2017, and its forecasts for 2018.