The Constitutional Court has ordered the immediate suspension of oil activities in the Orito Municipality in Putumayo, and ruled that there was no prior consultation with indigenous communities in the region.
The El Niño weather phenomenon has meant the highest use of thermal energy generation in Colombia’s history, says the director of Jorge Valencia Marín of the Mining Energy Planning Unit (UPME). However he assures that the grid is working fine, and the historic use is still “normal”.
The Ministry of Mines and Energy (MinMinas) and the Australian Consulate have signed a memorandum of understanding to deepen the relationship between the two governments and encourage an exchange in hydrocarbons matters.
The president of the Colombian Petroleum Association (ACP) Francisco José Lloreda sees 2016 as a critical year for structural changes that will make Colombia more competitive. High State take and soaring transportation costs must be addressed.
The Association of Large Energy Consumers (Asoenergia) says a planned regasification plant for Cartagena does little to address the energy issues, and called on the government to follow through with a reform of the distribution of the “reliability charge”.
The Bank of Bogotá produced a report in which it detailed the impact of four different oil price scenarios, and how these would affect the Colombian peso to US dollar exchange rate exchange rate, and as a result, government finances.
The blame game is in full effect, and now the General Controller has said the Cartagena Refinery contractor charged with the cost laden modernization project CB&I (NYSE:CBI) is looking to pull out of Colombia without passing over documents requested by the control entity in an audit of the project.
The Ministry of Mines and Energy has lowered fuel prices in February, and highlighted the falling fuel prices over the last year.
The USO welcomed the recent report from the General Controller which questioned the budget overruns in the modernization of the Cartagena Refinery (Reficar), saying that it proves their concerns were warranted and that the outsourcing model is bringing harm to the nation. Meanwhile, workers in two different instances have their own accusations against the union.
The National Hydrocarbons Agency is accepting comments until January 31 on proposed changes to the area assignment process, the last step before implementing a new model which it hopes will offer more flexibility and attract new players and investment to Colombia.
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