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.
The Ministry of Mines and Energy (MinMinas) has approved three more measures to promote exploration and production and confront the fall in oil prices. The Agreement 03 is part of its “PIPE” stimulus for the industry.
As the government concedes that maintaining a million barrels a day will prove increasingly difficult, the Finance Minister Mauricio Cardenas says projected oil revenue for 2016 could be six times lower than in 2014.
Research institute Fedesarrollo has issued an alert on the long term impact on the fiscal budget due to the fall in oil prices and a likely drop in oil production, with the deficit growing wider than legal limits by 2019.
The mayors of Ortega, Purificación and Melgar in Tolima joined to vent their shared concerns on royalty distribution and expedited environmental licenses issued by the National Environmental Licensing Agency (ANLA).
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