Congressional leaders called in the Minister of Mines and Energy Tomás Gonzalez and delegates from the Energy and Gas Regulation Commission (CREG) to defend their energy policies considering the uncertainty. The politicians seemed unconvinced by the official response.
Colombia’s Caribbean region has been identified as the territory where royalty investments have been the most mismanaged, while local departments reflect on royalty investments over the three year span of the General Royalty System (SGR). These and other royalty-related stories in our periodic summary.
The National Planning Department highlighted the importance of royalty resources for the post-conflict era, and has outlined changes being made to make their use more efficient.
We have been tracking the debate and discussion on Colombia’s gas supply which is tight now and will likely follow with a deficit in supply in 2016. We noticed yet another entity that has confirms that the cost of gas is on the rise: Colombia’s statistical agency DANE.
The General Royalty System (SGR) has been in place for three years now, with President Juan Manuel Santos marking the event by praising its contribution to job growth and a reduction in poverty. But not all agree.
Written deep in the Southern Llanos, a local paper goes into an anti-oil rant that essentially says even those that had seen production activities in a positive light are left without any arguments because the benefits of having the resource nearby do not materialize.
The National Hydrocarbons Agency (ANH) president Mauricio de la Mora outlined the entity’s goals in a meeting with the business sector and said that it expects 28 to 32 exploratory wells this year.
While Caribbean offshore blocks have received attention and been the site of recent discoveries, Pacific blocks have failed to gain the same interest and results. Now the National Hydrocarbons Agency (ANH) is looking to hold a competitive process in 2016 to find operators.
The National Hydrocarbons Agency (ANH) is preparing another set of regulatory changes, Agreement 05, which builds on past adjustments designed to make the sector more flexible in the new price scenario. This implements the change to directly assign blocks and could also include even more benefits for offshore contracts.
Led by the Casanare Chamber of Commerce (CCC), 12 business leaders from the local Oil & Gas Services Cluster participated in a trade mission to the United States to explore new markets and make business ties in hopes of stimulating their business.
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