The Minister of Mines and Energy Tomás González formally presented 10 measures designed to improve the competitiveness of the mining and hydrocarbons industry, pointing to their strategic role in the Colombian economy.
The Energy and Gas Regulation Commission (CREG) has approved a change that allows Ecopetrol (NYSE:EC) to fix propane cylinder prices based on the internal price of natural gas, a move which the propane distribution association Gasnova says will hurt Colombia’s poorest.
Both gasoline and diesel prices will see a small increase in July, as observers speculate whether the entry of the Cartagena Refinery (Reficar) could translate into significant savings for consumers in the beginning of 2016.
The contraband market for producing and distributing propane is costing the formal industry millions a year and exposing consumers to undue risk, warned Evamaría Uribe, the president of the propane distribution association Gasnova.
A press conference organized to show the advances of the Energy Oil & Gas Services Cluster of Orinoquia in conjunction with the Casanare Chamber of Commerce (CC) brought out some dire figures which show how hard the oil price crisis has hit Colombia’s regions.
Senator Manuel Enríquez Rosero made a call for congress to address the developing social and economic crisis building in Putumayo in its next ordinary session.
While the official analysis for gasoline demand in Colombia expects overall fuel consumption for mobility to grow 67% in 2030 compared to current levels, the use of alternative transport means and fuels could actually contract the market by up to 25% in 2050.
Preliminary figures show a sharp drop in net foreign investment of 33.9% to US$7.146B from January to May 2015, led by a decrease in investment in the oil and mining sector, Colombia’s Central Bank has revealed.
Ocad approves four projects in Tolima, meanwhile the mayor of Yopal requests additional funding for development projects. These and other stories in our periodic roundup.
A number of companies have already applied for benefits offered by the National Hydrocarbons Agency (ANH) thorough the Agreement 02, and the entity’s president Mauricio de la Mora says another round of measures are being planned.
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