News and AnalysIs for

The National Planning Department (DNP) initiated a process to modernize the Planes de Ordenamiento Territorial (POT) in the country. Many municipalities with oil activity are part of this process and must adjust to the new rules.

Although the government has been promoting the diversification of Colombia’s economy since last year, the new president of the Colombian Chamber of Petroleum Goods and Services (Campetrol), Germán Espinosa, said the country should not stop investing in the industry because it has considerably boosted its economy.

Colombia is not an oil-country but has the potential to be self-sustaining in the medium and long term, according to a study of the Geo Sciences Department of the National University. Carlos Alberto Vargas Jiménez led this research.

President Juan Manuel Santos said the High Councilor for the Regions, Carlos Correa, proposed making the General System of Royalties (SGR) more flexible and with this, allow infrastructure projects that are being developed in the regions be done with more agility.

The Colombian Chamber of Petroleum Goods and Services (Campetrol) organized a workshop to talk about tax reform. HCC was present at the event; we have a brief summary of the meeting.

President Juan Manuel Santos asked MinHacienda Mauricio Cárdenas and MinMinas Germán Arce, to meet with Colombia’s mayors and governors to resolve the ‘controversy’ that changes to the gasoline surcharge has aroused.

Many opinions have come out after the decision of the Ministry of Mines and Energy (MinMinas) to reduce the gas surcharge. German Arce, MinMinas, explained his rational.

High oil prices helped many countries to diversify and grow their economies. The Peterson Institute conducted an analysis of 40 nations to see if they took advantage of oil boom. Colombia was part of this research.

Centro Democrático’s Senator, Ernesto Macías, has been persistently denouncing the lack of follow-up to the General System of Royalties (SGR) implemented by President Santos’ government.

Last year was one of the hardest for the hydrocarbon industry. Production fell, investments declined to historically low levels and projects stopped, among many other problems. But, this year begins with good prospects and the sector hopes to recover some lost ground.