After the report presented by the Office of the General Comptroller on CBI and Reficar’s contracts, there are “more questions than answers.” According to the Colombian press there would be a loss to the nation of CoP$8.5T, but the presumed cost overruns should be examined in detail.
Another tidbit from the ongoing discussion surrounding new taxes levied as part of Colombia’s tax reform: a proposed carbon emissions tax will be levied on the producers of fossil fuels, oil derivatives and importers, not on the consumers which use them.
The Minister of Environment (MinAmbiente) Luis Gilberto Murillo explained that green taxes, like a levy on carbon emissions, are important for Colombia’ sustainable development and for meeting the country’s environmental goals.
The Energy Mining Planning Unit (UPME) has updated its interim natural gas plan and warned that even though there are more years of natural gas reserves in the country than those of crude, this fuel has more worrisome consequences if supply becomes scarce. The UPME reinforced plans for importing.
An attempt by congressional members to place a tax on natural gas brought about a quick rejection from the Colombian Natural Gas Association (Naturgas). Lawmakers appear to have backed down, but it raises a number of questions as to the tax strategy for fossil fuels.
A port investment group (PIO SAS), is pushing forward to build Colombia’s second regasification plant called Puerto Solo, which would be located in Buenaventura, following the inauguration of Colombia’s first regasification plant Puerto Cayo in Cartagena.
The Energy and Gas Regulation Commission (CREG) recently organized an event to show its results during 2015 and 2016. HCC was present at the event; we bring a brief summary of the meeting.
Colombia’s Constitutional Court approved the ‘Fast Track’ bill which allows the government to start implementing the peace agreements with the Farc, and now the bill must be debated and voted on in congress.
The Ministry of Mines and Energy (MinMinas) organized an event to present its performance during 2016. MinMinas discussed Energy, Mining and Hydrocarbons, we will focus on our industry.
The president of the Dubai Chamber of Commerce and Industry (CCD) Hamad Buamim explained to Colombian press how his city’s economy has diversified past oil, and that it is a model which Colombia could follow and cooperate with.
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