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Regulations & Policy

Terpel defends business strategy

Following accusations from the retail fuel station association Fendipetróleo that Terpel is taking advantage of its status as a wholesaler and retailer of fuel to crush small businesses with an unfair advantage and low prices, the firm’s president Sylvia Escovar responded.

Thursday, July 7th, 2016
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Rubiales field always property of Colombians, says MinMinas

The Minister of Mines and Energy (MinMinas) Germán Arce attended the official handover of the Rubiales field and said that the field was never really under any ownership other than the Colombian public, and its resources are needed for the post conflict transition.

Wednesday, July 6th, 2016
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Uncertain future for production in La Macarena

Public rejection of an environmental license for production near “the world’s most beautiful river”, Caño Cristales, might have led the revoked license of Hupecol, but the uncertainty is much bigger, considering how many more projects are in the same area.

Wednesday, July 6th, 2016
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Peace will bring advances in geological knowledge

By enacting a peace agreement, Colombia will have an opportunity to develop the knowledge of its subsoil to visualize opportunities and threats, said the Minister of Mines and Energy (MinMinas) Germán Arce.

Thursday, June 30th, 2016
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Campetrol expects 42% FDI drop in 2016

The Colombian Chamber of Oil Goods and Services (Campetrol) expects that the oil sector’s Foreign Direct Investment (FDI) will drop 42% in 2016 to US$4.72B, and has bleak perspectives through 2020 if key policy issues are not addressed.

Thursday, June 30th, 2016
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Associations welcome ceasefire agreement

Both the Colombian Petroleum Association (ACP) and the Colombian Association of Oil Engineers (ACIPET) welcomes the recent ceasefire agreement, and said that the oil industry has been one of the sectors most affected by the armed conflict.

Wednesday, June 29th, 2016
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MinHacienda’s payment gymnastics

The Ministry of Finance (MinHacienda) is preparing to issue treasury bonds worth CoP$853.177B (US$294.4M) to cover financial obligations with the Fuel Price Stabilization Fund (FEPC), in an operation that has some analysts scratching their heads.

Wednesday, June 29th, 2016
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Accusations against Terpel in fuel retail market

Accusations of unfair competition, of a monopoly and aggressive tactics against family-owned fuel stations have made press, with a particular emphasis on Terpel, which critics say has crossed a line as a wholesaler and retailer.

Tuesday, June 28th, 2016
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Rare view into ANH agreement

The National Hydrocarbons Agency (ANH) has been willing to negotiate contract terms of E&P contracts as one of the benefits delivered to the industry due to the fall of oil prices. But rarely do these agreements get released to the public. A recent agreement made with Interoil over COR-6 gives us a small window into this process.

Monday, June 27th, 2016
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Cartagena community confident on prior consultation court action

Residents of Pasacaballos, located in the area of influence of the Cartagena Refinery (Reficar) have appealed the rejection of a local judge to the Supreme Court of Justice to receive an injunction against Reficar for not respecting their right to a prior consultation.

Monday, June 27th, 2016
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