The Minister of Environment and Sustainable Development, Luis Gilberto Murillo, presented the integrated land-use policy that provides tools for the proper management of this resource,including the conservation of biodiversity, water, air and risk management.
Apparently, everyone has an idea to modify the National General System of Royalties (SGR.) Projects to assign the budget required to re construct Mocoa and to allow the territorial National Pension Funds (FONPETs) to use their spare budget in social investment programs. These and other stories in our periodic Royalties summary
Colombia’s Central Bank released 1Q17 Foreign Direct Investment (FDI) numbers for the country and it decreased in the oil sector.
The oil industry has contributed to the country’s development, but also provokes rejection by some. Juan Carlos Echeverry, CEO of Ecopetrol (NYSE: EC), referred to this situation and said that the country must make a decision.
During the National Congress of Municipalities, mayors asked the National Planning Department (DNP) to eliminate the Collegiate Organs of Administration and Decision (OCAD).
Foreign Direct Investment (FDI) in oil sector reported an increase in 4Q16. However, these figures remain very small compared to previous years. The sector’s contribution went up in the quarter but still down on an annual basis and it is too soon to tell if this is a reversal of trend or a blip.
Prospects for this year are positive in the gas sector. Colombia will reactivate exploration especially in offshore fields. The industry will make large investments in E&P and infrastructure.
Comptroller General, Edgardo Maya gave new details on the opening of a chicken broiler and a spa with royalties destined for the Cauca Science, Technology and Innovation Fund, and projects financed with the General System of Royalties’ (SGR) budget were approved in Meta, Putumayo and Guajira. These and other stories in our Royalties periodic summary.
The Colombian government already identified 43 blocks apt for using unconventional techniques. This has caused major controversy among environmentalists in the country.
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