A few weeks ago, a poll appeared showing Gustavo Petro in first place for Colombia’s upcoming elections. Somewhat naturally, this raised eyebrows and raised concerns in the oil and gas industry.
Unconventional projects are the main alternative of Colombia to solve the problem of energy self-sufficiency in the short (and maybe even longer) term. This option has generated many discussions and controversies, but the National Authority of Environmental Licenses (ANLA) recently made a historic decision on this issue.
This graph started – as many do – in response to a question from a subscriber: “Can you relate oil prices to investment?” It was easy to do the graph from our databases, but we did not expect the result to be so definitive.
Official figures to evaluate Colombia’s development during 2017 are available; low economic growth, social protests and the breach of several presidential promisesshaped last year.
Colombia’s Central Bank (Banrep) released final 3Q17 Foreign Direct Investment (FDI) figures for the country. This increased in the sector compared to same period last year, but dropped compared to 2Q17. Total FDI grew considerably in Colombia.
Perhaps the greatest challenges that Colombia will face with the implementation of the peace agreements, is giving more relevance to rural areas that have traditionally been neglected by the State.
The Ministry of Commerce (MinComercio) has contributed more than CoP$8.7B for the development of this initiative.
The Ministry of Energy and Mines announced the appointment of a new vice minister of energy, Alonso Cardona Delgado.
Investigations on the Reficar scandal are ongoing in Colombia. A judge made a decision about two former directors investigated in this legal process.
The Minister of Mines and Energy, Germán Arce Zapata, spoke about the projects of the General System of Royalties (SGR) that were approved in December of 2017 by the Collegiate Organs of Administration and Decision (OCAD), in the session known as ‘odcatón.’ These and other stories in our periodic Royalties summary.
2025, Hydrocarbons Colombia, All Rights Reserved.
