A proposed change from the Energy & Gas Regulation Commission (CREG) that looks to facilitate the entry of new energy generators using more hydro, wind or solar power and lower “guarantee charges” has received some praise, while thermal generators say it could impact energy stability.
With Colombia’s current tax scheme on companies, it would be nearly impossible to recover lost investment due to the fall in oil prices, unless prices return to a level of around US$80/barrel, said Sebastián Borgarello, VP of Wood Mackenzie’s energy consulting business.
The Comptroller General fears up to CoP$112B (US$35.6M) in project funding has been diverted by municipalities in the first half of 2015. 37 of these cases occurred in the Cesar department.
The Colombian Association of Oil Engineers (ACIPET) held the XVI version of its Oil & Gas Congress last week, leading to a flurry of comments about the current state of the oil industry and its professionals from authorities and observers.
The fall in oil prices has caused a rethinking of budgets and projects, cutting into the potential for unconventional resources but not stopping any programs completely.
Equion supports sustainable poultry production in Casanare, while community members in Trinidad criticize Pacific Exploration & Production (TSX:PRE) for its alleged lack of support in road improvements. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
The oil price crisis is forcing Colombian Oil Engineers to rethink staying in country or face an uncertain job market or unemployment, the Colombian Association of Oil Engineers (ACIPET) said during its annual oil & gas congress.
Havana chief negotiator Humberto de la Calle announced some of the options being considered for the development of agreements with the Farc and defended the “sovereign powers” of the executive to submit agreement proposals.
The Colombian oil industry is facing serious challenges for its long term future, and day-to-day fixes are not enough says the president of the Colombian Petroleum Association (ACP) Francisco Lloreda.
The Mining Energy Planning Unit (UPME) director Jorge Valencia says that whether it is through parallel networks, capacity increases or new routes to accommodate imported gas, more natural gas infrastructure is required to serve growing demand.
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