News and AnalysIs for

The sponsor spoke about a bill in the Senate that seeks to set at least 35% of the General Royalty System (SGR) budget for education in Colombia. These and other stories in our periodic Royalties summary.

The Network of Municipalities in Mining Environments (Remem) made a proposal to leverage royalties’ resources. The Colombian Federation of Municipalities (FCM) supports these initiatives.

Once again, the Colombian Association of Petroleum Engineers (Acipet) spoke out, setting the record straight on oil activities, this time in Boyacá.

EITI Colombia chose the municipality of Muzo (Boyacá) to host an accountability session, highlighting positive results.

BP recently published its annual statistical summary of the global energy market and we thought it might be interesting to look at a few selected charts. The focus was country-by-country comparisons and, by looking at energy consumption broadly, we chose some variables that might be a bit different.

Mauricio Cárdenas, Minister of Finance, announced the last Medium Term Fiscal Framework of the current government, with good prospects. The State revenues from the oil sector could increase considerably in the coming years.

The Ministers of Mines and Energy and of Finance have generated a lot of publicity about the CERT – a cash flow incentive for certain exploration and production investments. They have been less vocal about a MinHacienda initiative that claws back part of the incentive.

The Chamber of Commerce of Barrancabermeja (CCB) published a report on the oil cluster in the city. The chamber highlighted the cluster’s benefits and its ability to offer services.

The National Hydrocarbons Agency (ANH) plans to offer new oil blocks to boost the oil exploration and production in the country. The agency has been working on this program for several years. The government’s hopes are in some basins and the next Minister of Energy and Mines (MinMinas) will play a key role in this process.

The Ministry of Finance (MinHacienda) updated the Medium Term Fiscal Framework to reflect the recovery of oil prices. Expectations about oil exports are positive for the short term.