Political pressure on the regulatory framework to set natural gas prices continues to build uncertainty around the future prospects for the industry, as well as natural gas production and distribution.
There has been a brief flurry of press articles about unconventional technologies in the past three weeks but with low oil prices the industry has not been motivated to defend itself and the balance remains negative.
Monday, July 20th, 2015 was not only the first day of the Farc’s unilateral truce but the last day of Senator David Name’s reign as president of the Colombian Congress. We can hope that the CREG can now get on with setting natural gas prices based on reason and not politics.
The Comptroller General has told the Meta government that its statistics on royalty distribution show a discrepancy in departmental data, meanwhile the Comptroller has moved ahead with an audit of the Tolima Government. These and other stories in our periodic roundup.
The Minister of Mines and Energy Tomás González took to his quill and scroll to pen an opinion column where he defends the strategic importance of the oil industry for Colombia’s pubic finances, its fight against poverty and transition to peace. But to do so production must stay high.
Bad week for Mexican President Enrique Peña Nieto: a top crime boss escapes from prison in spectacular fashion and the much vaunted Round 1 (shallow water) auction was a spectacular failure. We publish the results and make commentaries on what this means for Mexico, Colombia and the region.
The oil industry is one of Colombia’s economic pillars, but onshore exploration activity needs a substantial boost otherwise the impact will be felt in regions and the local economy, warns Colombia’s Chamber of Oil Goods and Services (Campetrol).
The Minister of Mines and Energy Tomás González says that regardless of who owns Pacific Rubiales (TSX:PRE), the field must be operated properly and responsibly.
The fall in oil prices and resulting drop in investment has led to more competition between Colombian citizens and foreign oil professionals, thus making the country less attractive for these expat workers, a recent report found.
The General controller Edgardo Maya Villazón said that royalty projects should face tighter time-frames due to the large quantity of projects that have been approved but not implemented. This and other royalty-related stories in our periodic summary.
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