News and AnalysIs for

Government and industry indifference to public opinion on unconventional resource development continues and last week our Net Promoter Score even dipped below 0.

The Minister of Mines and Energy (MinMinas) Tomás González made a visit to a mayors meeting in Yopal to announce the distribution of financial assistance to oil producing municipalities affected by the drop in oil prices. Over 50 municipal mayors attended the meeting in Yopal.

The collapse of oil prices and Colombia-specific challenges meant a very-reduced attendance at the 5^th Colombia Oil&Gas Conference in Cartagena. We assume MinMinas Gonzalez appreciated this as he gave the keynote address.

The XVIII Congress of the Colombian Natural Gas Association (Naturgas) has provoked a discussion on the future of the industry, on subsidies, delays in regulations and licensing, and how to prioritize the use of propane or natural gas.

The former head of the Colombian Petroleum Association Alejandro Martínez says that structural changes are needed to mitigate the impact of the fall in foreign investment in Colombia and foment exploration.

The National Mining Congress included a presentation of the ‘Mining Compass’, a commissioned study that found growing pessimism for the future of the industry, but an improvement in the general public opinion facing this industry.

But the statistical odds are not good given recent history. President Juan Manuel Santos has changed MinMinas every year.

MinMinas Tomás González was in Houston this week at one of industry’s most important conferences, CERAWeek. This is a marketing opportunity certainly but also a look at the official point of view.

The General Comptroller has released comments on the royalties budget for 2015-2016, criticized the slow pace at which royalties projects are being executed and highlighted an unrealistic reference price per barrel of oil. These and other stories in our periodic roundup.

The oil industry has always been subject to price cycles, so the fall in prices should be nothing new. However instead it has caused panic among companies which has left Colombian workers and oil engineers exposed says the president of the Colombian Association of Oil Engineers (Acipet) Carlos Leal.