The Regional law project presented in December 2017 has generated raised expectations with local authorities and concerns in some political parties. The National Federation of Departments is promoting this proposal and there have been important advances.
Henry Ruiz Molina, Executive President of the National Federation of Fuel and Energy Distributors (Fendipetroleo), spoke about the sector, prices and biofuels.
The change to the General System of Royalties (SGR) has been one of the main causes of social discontent against the oil industry in recent years. Iván Duque, Presidential Candidate, spoke on this subject in the departments of Casanare and Meta.
The General Comptroller’s Office investigated projects financed with royalties’ resources in Casanare; a department known for its irregularities in the use of these resources. These and other stories in our periodic Royalties summary.
The oil sector considers that unconventional projects are the key to guarantee energy self-sufficiency in the long term. Barrancabermeja has potential in these types of projects, but Dario Echeverri, mayor of the city, made a proposal that could affect several plans in the region.
Gustavo Petro, who continues to lead electoral polls along with Ivan Duque, spoke about his proposals regarding the mining-energy industry.
The environmental emergency in La Lizama generated changes, including, according to the press, potential impacts on the development of Ecopetrol’s (NYSE: EC) pilot project for fracking.
Oil prices and dollar exchange rates are two of the most-watched metrics in the country. These two have had a variable behavior in recent months. Mauricio Cárdenas, Minister of Finance, spoke on this issue and the benefits of an increase in oil prices.
Oil companies have allocated significant resources to social investment in recent years, despite Colombia’s social and security issues. The oil boom helped to increase this metric, but investments continued despite the oil crisis.
Industry experts took the stage of the International Congress of Clean Energy to talk about the impact that these resources would have on energy tariffs in Colombia, among other topics.
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