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The oil and mining sectors have contributed huge amounts of royalties to boost the country development.

In addition to considering that there could be a gas shortage in the country by 2018, the Comptroller General showed its concern about the effects that delays in the planning and implementation of new gas projects could have.

Last year was difficult for the sector because of the continued oil price decline. The industry had to adapt to this environment and learn to operate with the lowest price in 12 years.

The executive president of the Colombian Petroleum Association (ACP), Francisco Lloreda, called on Meta’s authorities to work together and help turn the industry’s crisis into an opportunity for the department.

Valle del Cauca business associations defended the construction of the Pacific coast regasification plant because according to them, is an important competitiveness element for Colombia.

The oil and mining industry has many challenges in the country and legal uncertainty is one of the major ones. Authorities want to improve it, and they are working to achieve it.

The government is analyzing how to finance the post-conflict in Colombia and one option is to modify the General Royalty System (SGR). Local authorities spoke about the negative consequences this could bring.

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.