Mauricio de la Mora has been confirmed as the new president of the National Hydrocarbons Agency (ANH), replacing Javier Betancourt and taking charge of the agency at a fragile moment for the industry.
The political forces that successfully swayed Ecopetrol’s (NYSE:EC) board to not renew the association contract with Pacific Rubiales (TSX:PRE) have moved on to the next step, that Ecopetrol operate the field directly, opening the door to the USO union to enter the field.
As the debate on the the National Development Plan for the next four years starts in Colombia’s congress, the Minister of Mines and Energy (MinMinas) Tomás González has made another public appeal for flexibility for companies in the oil industry, considering the price crisis.
The Ministry of Mines and Energy (MinMinas) is advancing with a resolution that would rework how territorial entities share royalties of projects on properties which overlap regional borders, introducing a new formula.
The graph shows what has happened to production from Rubiales field since 2002. Meta Petroleum i.e. Pacific Rubiales (TSX:PRE) took over operations of the field in mid-2006 when it was producing just under 10mbd by our estimates.
The association of propane gas distributors Gasnova reiterated its alarms that Ecopetrol (NYSE:EC) is taking measures to limit the supply of propane gas in Colombia to benefit its financial results, which it says will have a grave impact on the poorest populations in the country.
The Minister of Environment Gabriel Vallejo contests the concept of ‘express’ environmental licenses, arguing that instead the license only now has clear procedures and timeframes, and the new system will be technical and more formal.
The Network for Tax Justice has filed a lawsuit to anull the Ministry of Mines and Energy (MinMinas) resolution that defines the formula used to determine the country´s fuel prices.
A Casanare representative has challenged articles of the royalty reform law while the National Planning Department (DNP) has suspended payments to 106 municipalities who have not reported their royalty use. These and other stories in our routine round up.
The Colombia Chamber of Oil Goods & Services (Campetrol) estimates that as many as 15,000 workers with oil contractors have lost their jobs thus far due to the fall in oil prices, and that the cuts will likely continue.
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