News and AnalysIs for

The development of unconventional projects is the main strategy to increase oil reserves in the short, medium and long term. However, this alternative is resisted or even rejected by many local communities. The business paper La Republica held a forum to talk about this situation.

The Colombian Association of Petroleum Engineers (ACIPET) has been one of the most active groups to defend the sector of anti-oil referendums. The association sent a letter to the Constitutional Court about this issue.

The Center for Economic Studies of the National Association of Financial Institutions (ANIF) spoke about the industry’s situation in 2017, and its forecasts for 2018.

The government has been working on a bill to regulate prior consultations in the country. German Arce, Minister of Mines and Energy (MinMinas) spoke about the progress in this important project for the industry and the country.

Government and industry representatives attended the “100 years of oil in Colombia” forum, organized by La República newspaper. They gave their perspective on what the year looks like for the industry.

The intention to carry out anti-oil referendums continues to grow in different regions of the country, affecting the investors’ confidence and the industry development in Colombia. Communities will conduct a new consultation in the department of Huila.

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.