The National Government plans to regulate popular referendums and prior consultations in Colombia. These actions have grown exponentially recently and have affected oil and mining projects.
To participate, companies must register in a single database and update their information every year.
Juan Manuel Santos, President of Colombia, proposed to approve projects financed with royalties through fast track. He said thisat the Mayors’ Summit in Valledupar and there are advances onthe initiative.
Popular referendums have grown exponentially in recent years in Colombia. Several municipalities plan to hold consultations to ban mining or oil activities in their territories.
The Ministry of Mines and Energy (MinMinas) took part in the Extractive Industries Transparency Initiative (EITI) conference in Oslo (Norway).
The Ministry of Mines and Energy (MinMinas) announced Colombian oil and gas reserves during 2016. They dropped compared to 2015 and one of the reasons was Ecopetrol’s (NYSE: EC) participation in total reserves in the country.
The Constitutional Court ordered the creation of an inter-institutional roundtable to investigate the impacts of mining activities in the country.
After months of controversy, the General System of Royalties (SGR) was modified to allow the allocation of royalties’ moniesto finance the post conflict process. Separately, thegovernment announced several infrastructure projects in different rural areas of Colombia. These and other stories in our periodic update.
The Minister of Mines and Energy, Germán Arce, signed a new agreement by which the National Hydrocarbons Agency (ANH) adopts a new scheme for the allocation of new areas of exploration and production of oil and gas.
Francisco Lloreda, president of the Colombian Petroleum Association (ACP) questioned the current General System of Royalties (SGR.)
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