News and AnalysIs for

Electrical engineer Ricardo Humberto Ramírez was chosen by the Ministry of Mines and Energy (MinMinas) as the Mining and Energy Planning Unit’s (UPME) new director.

With the aim of assuring a better distribution of royalties’ resources for the regions,Santander’s Governor Didier Tavera proposed a reform to the General System of Royalties (SGR). These and other stories in our periodic Royalties summary.

The Colombian oil sector had a difficult year as a result of social and legal problems. The country will have elections in 2018 and the industry is concerned about the results of this process.

The government has great hopes for offshore projects to guarantee the country’s energy self-sufficiency in the long term. Authorities have created several regulatory standards to promote the development of these new projects.

According to a report from the Colombian Petroleum Association (ACP), companies invested US$3.4M in the country during 2017.

The Ministry of Mines and Energy (MinMinas) and the Collegiate Body for Administration and Decision (OCAD) reported successful projects financed with royalties’ resources in Córdoba, Norte de Santander and the Caribbean. These and other stories in our periodic Royalties summary.

The Ministry of Environment (MinAmbiente) participated, for the first time, in the Extractive Industries Transparency Initiative (EITI) report, providing relevant information on the Colombian extractive sector.

The Ministry of Mines and Energy (MinMinas) recently announced the new gasoline and diesel prices in the country, generating much discontent among consumers and business users. No one agrees with the management of fuel prices in Colombia.

The Centro Democrático political party started a series of conferences with economics professor Alberto Bernal, who analyzed Colombia’sfuture and the importance of the extractive industries to it.

The country will undergo an early evaluation to go from a candidate country to a member of the Extractive Industry Transparency Initiative (EITI); the Organization includes the largest oil and mining companies from53 countries.