The oil industry has had to face a complicated situation in recent years. The oil price drop affected all companies in the sector. Opinions are mixed about performance this year.
The Government formally requested Colombia’s early validation to the Extractive Industry Transparency Initiative (EITI), and will sponsor the Dominican Republic’s entry
The Sectorial Studies Direction of the General Comptroller conducted a discussion on natural gas and its supply. The Mining Ministry (MinMinas) and the Energy Mining Planning Unit (UPME) participated in the event.
The government plans to propose a law to allocate 7% of the royalty resources to the post-conflict process. Some governors believe that this measure will promote centralism.
The National Government failed to receive about CoP$23.6T due to the oil price drop and the sector crisis affected everyone. In September 2015, the National Hydrocarbons Agency (ANH) announced improvements and incentives to boost the sector. Nearly a year-and-a-half later, finally, the new regulation has been approved.
Huila’s inhabitants showed their rejection against this year’s fuel surcharge in the department.
Liberal Senator Luis Fernando Velasco, expressed his rejection towards this year’s fuel surcharge, which he classified as “illegal and unfair” to Colombians’ finances.
Cases of royalties’ mismanagement have increased in the country putting 10,000 projects in state of vulnerability, but the High Court is taking measures against corruption cases and already condemned three former officials in Meta, and the OCAD said there are 84 projects ready in the country. The development of these and other stories in our periodic summary.
Two officials from Ecopetrol and one from the UIS Alliance are part of the eight Colombians certified in the organic petrography technique.
The Colombian Chamber of Petroleum Goods and Services (Campetrol) is optimistic about this year. The association believes that oil activity and investment will recover. Campetrol’s optimism is based on an analysis by the Colombian Petroleum Association (ACP).
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