News and AnalysIs for

Latin American countries want to boost their oil sectors by offering blocks for exploration and production. The governments of Latin America open their doors to private investment in the oil industry, after years of monopolies.

Several Latin American countries will elect a new president this year and some candidates have radical positions against the oil sector, generating uncertainty among investors in the region. Standard & Poor’s conducted an analysis on the political situation of Latin American countries.

The majority of municipalities in Colombia still do not have their Territorial Planning Organization (POT) up-to-date, even though the National Planning Department (DNP) warned about this issue last year.

Magdalena’s Collegiate Body for Administration and Decision (OCAD) prioritized the construction and remodeling of sport fields, recreational parks, bridges and urban roads during its last session. These and other stories in our periodic Royalties summary.

Since we started Hydrocarbons Colombia, we have reported on a number of good-sized scandals, ones that have lasted more than a couple of days. The latest is the escape of oil from the La Lizama well. This one could have more profound impacts on the industry than any previous media circus.

The Colombian government wants to be part of the Organization for Economic Cooperation and Development (OECD). Colombia undertook several changes and the government announced measures to achieve this goal.

The National Agency of Environmental Licenses (ANLA) spoke about the gaps that exist in the studies of China’s Emerald Energy to develop El Nogal block in the municipality of Morelia (Caquetá).

The Ministry of Mines and Energy (MinMinas) announced that it gave ‘the green light’ to the tax incentive that seeks to stimulate oil and mining activities in the country; the Certificate of Tax Reimbursement (CERT).

Colombia continues to discuss the possibility of implementing unconventional techniques to guarantee energy self-sufficiency in the long term. Vice Minister of Energy, Rutty Paola Ortiz, spoke about advances in this regulation.

The General Comptroller questioned the current royalty system for its poor execution of projects, the dispersion of resources and corruption risks.