The boom of anti-oil and mining referendums has created a lot of legal uncertainty in Colombia. The government aims to regulate this mechanism, but several associations have come out against this intention.
The Canadian Chamber of Commerce together with Norton Rose Fulbright, hosted an event to discuss the industry’s situation in the world and the impact of Agreement 02 in Colombia. National Hydrocarbons Agency (ANH), Canacol (TSX: CNE) and Parex (TSE: PXT) representatives attended the event.
The oil industry has repeatedly said that the development of Unconventional Deposits (UC) is the way to guarantee self-sufficiency in the long term. The Ministry of Environment (MinAmbiente) and the Ministry of Mines and Energy (MinMinas) have different views on this issue.
The Colombian Association of Petroleum Engineers (Acipet) held a press conference in Bogotá and Julio Cesar Vera, President of Acipet, highlighted the association’s actions to boost the industry.
The Colombian Association of Energy Distributors (Asocodis) and the Colombian Chamber of Energy (CCE),spoke about the negative effects that cutbacks in MinMinas can have on low income families.
The General Comptroller´s office conducted an evaluation of the management of the National Environmental Licensing Authority (ANLA) during 2016. The results were negative.
The government is analyzing a decree that could help mitigate the tension between the industry and communities; so far, feedback on the infrastructure for taxes initiative has been positive. These and other stories in our Royalties periodic summary.
Claudia González, director of the National Authority for Environmental Licenses (ANLA) gave a positive outlook forthe industry’s situation in Colombia.
The National Planning Department (DNP) announced that there are almost CoP$12T accumulated in royalties budget all over Colombia, but departments have already started to present projects in different areas to the Collegiate Bodies for Administration and Decision (OCAD.)
The boom in anti-oil and mining referendums is generating a lot of uncertainty with companies and investors. Juan Manuel Santos, President of Colombia, spoke about this issue (for the first time in a while) in a business meeting.
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