News and AnalysIs for

Colombia’s Central Bank (BanRep) released Foreign Direct Investment (FDI) figures as of June 2024. Here are the details.

The National Administrative Department of Statistics (DANE) has released the results of the Environmental and Economic Account of Mineral and Energy Resource Assets, revealing a decline in the reserve life index of four out of six key resources in 2023 compared to the previous year.

The National Hydrocarbons Agency (ANH) showcased various initiatives and experiences developed within its Technical Information Management department.

The government announced the nomination of a new expert for the Energy and Gas Regulatory Commission (CREG).

Oil and natural gas companies in Colombia are required to pay royalties to the state, which are then distributed among municipalities and departments to finance projects aimed at improving the quality of life for Colombians. However, in recent years, the expected royalty revenues have not been met, despite stable production levels.

A legal process against Colombia’s Ministry of Mines and Energy (MinEnergia) and the National Hydrocarbons Agency (ANH), spearheaded by Diego Fernando Forero González seeks to nullify the regulation that assigned new functions to the entity.

The Petro administration announced a significant economic reactivation plan that will allocate funds from royalties to various industrial, tourism, housing, energy, agricultural, and construction sectors.

Frequent contributor Tomás de la Calle brings us his overview of 100 years of Colombian government oil industry policy. He tells us to look at the history in terms of three distinct ages: The Ancient Age, The Elephants Age and The Capybaras Age.

Colombia is poised for significant growth in its agricultural sector, particularly in the production of ethanol from sugarcane.

Finance Minister (MinHacienda) Ricardo Bonilla outlined the government’s strategy for economic recovery, indicating that recent national economic figures and expert estimations suggest the country “has entered a path of recovery.”