Considering that production is up over 3.5% so far this year but crude oil prices are way down, we decide to see how total industry revenues might be tracking.
The Transport Ministry’s Intermodal Master Transport Plan looks to consolidate the transport and logistical infrastructure in Colombia, and held its third socialization ahead of its next national meeting in August of this year.
The National Planning Department (DNP) says that it will dip into resources from the Regional Development and Stabilization Fund and use past surpluses so that the 2015-16 royalty budget can be implemented despite a CoP$6T gap in funding due to the fall in world oil prices.
After nearly two months of blockades in Caquetá over an exploration project by Emerald Energy, tensions have elevated the conflict to a new high after riot police cleared protesters by force last week.
It is only a commitment to study the issue, but the Colombian government finally seems to admit there is a problem with the tax system that inhibits investment in exploration and development.
Nothing seems to be 100% sure in the natural gas industry. Will a recent call for comments from the Ministry of Mines and Energy (MinMinas) on a planned resolution regarding planning for future gas consumption trends help clear things up?
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.
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