Recent popular referendums have increased legal uncertainty in Colombia. Leaders of the sector have shown their concern and Orlando Velandia, President of the National Hydrocarbons Agency (ANH) talked about this issue.
Even though a budget was approved to finance projects in Casanare and Arauca, as a result of delays and irregularities in projects being developed in Yopal, the National Department of Planning (DNP) conducted a ‘marathon review’ of SGR projects in the department. These and other stories in our Royalties periodic summary.
The Colombia Stock Exchange (BVC) hosted the Colombia Inside Out 2017 event in London, to present business opportunities in different sectors of the country.
The National Federation of Palm Growers (Fedepalma) disagrees with Government’s decisions on the National Biofuels program. The federation referred to the consequences of these actions.
The Colombian Petroleum Association (ACP) believes that the wave of popular consultations in the country can have negative consequences for companies wanting to find reserves in the country.
The long-anticipated event took place on June 7th in Bogotá. The initiative was announced in September of 2015 and was supposed to have been signed in March 2016 but has suffered multiple delays and setbacks.
A court in La Guajira issued a ruling against Promigas making it pay compensation for a guerrilla attack on its facilities. Some representatives of the sector talked about this issue and there is much concern about legal situation in the country.
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.
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