The contradictory rulings of Colombian authorities in 2016, have created legal uncertainty in the oil, gas and mining sectors.
The USO’s major topics of discussion during this week were the ‘labor massacre’ to which workers of the Masa Stork plant will supposedly be put through, legal issues with Naviera Fluvial S.A, corruption and the consequences of Terpel’s so-called fuel monopoly.
The Colombian government failed to meet its oil production target for 2016 (what a surprise). The Ministry of Mines and Energy (MinMinas) reported data for December and the annual average extraction in the country.
German Espinoza was appointed as the new executive president by the Colombian Chamber of Petroleum Goods and Services’ (Campetrol) Board of Directors and will assume office on February 1st, 2017.
The Colombian Petroleum Engineers Association (ACIPET) has a new board and elected Julio Cesar Vera Díaz as the new Chairman. Acipet published an interview with Vera Díaz and we bring a brief summary of it.
After months of speculation, seems like negotiations between the Government and the ELN will start on February 7 in Quito, Ecuador, five days after the ELN releases former congressman Odín Sánchez.
Oil production will continue to fall. The National Government estimated it for the financial plan for 2017 and some days ago, Mauricio Cárdenas, Minister of Finance, presented this plan.
According to the most recent audit report from the General Comptroller, royalties left by oil production and extraction in Colombia were not used in the best way by 17 departments and 22 municipalities.
The panorama presented by the Regional Economic Bulletin (BER) for the departments of Meta, Casanare, Amazonas, Guainía, Guaviare, Vaupés and Vichada, corresponding to 3Q16 was not very encouraging. 2017 will bring big challenges for Colombia’s southeastern region’s economy.