The president of the Colombian Petroleum Association Francisco José Lloreda said that the royalty framework is one of the leading causes of community conflict and must be reviewed, and prior consultation would be better served if handled by the government ahead of awarding blocks.
The president of the Colombian Energy Chamber (CCEnergia) Andrés Taboada said it seems that government entities are dedicating their efforts to creating obstacles to developing exploration and production activities for oil and gas, instead of promoting these investments.
Colombia’s most public (potential) unconventional project, still in its early exploration phase, has been suspended by ConocoPhillips (NYSE:COP) due to a series of blockades in the VMM3 block.
We thought it would be useful for others to read the complete text of ConocoPhilllips (NYSE:COP) statement on the tense situation in San Martin, Cesar. It lays out clearly what the company has done, what the ANH and MinMinas have done, the blockades that arose despite this effort and what the company’s reaction is to the blockades.
The propane gas association Gasnova sent out a warning that there is a 7% monthly deficit in the supply of propane gas for domestic use and if immediate action is not taken 240,000 families which rely on the fuel could see their supply put at risk.
The National Hydrocarbons Agency (ANH) and the Ministry of Mines and Energy (MinMinas) have received approval to create special tax free zones for offshore production in the Colombian Caribbean waters.
Is it a leak or is that oil seeping from the ground? A peculiar instance of environmental problems has occurred in Barrancabermeja in the Campo 23 village, after oil started seeping from the area. Ecopetrol (NYSE:EC) responded but says it is a natural occurrence.
The Barranquilla Chamber of Commerce has signed a cooperation agreement with the Chamber of Commerce of Aberdeen and Grampian, Scotland, to exchange information on the offshore industry and promote production in the Caribbean city.
The Ministry of Mines and Energy (MinMinas) said the second phase of its joint program with the National Hydrocarbons Agency (ANH) to reduce community conflict, the “Territorial Strategy” (ETH), has consolidated its second phase. The ministry shared results thus far in 2016,
Ecopetrol (NYSE:EC) needs capital to start a new exploration campaign and add new production, and non-committal statements from its president Juan Carlos Echeverry have led to speculation that the government could issue another round of shares.
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