The Meta Department government has frozen more than half of its planned spending on projects that were to be funded by royalties as it prepares for a significant decrease in royalty funds in the next years. This and other stories in our periodic roundup of royalty related issues.
Promigas president Antonio Celia believes that there is commitment from the government to make gas infrastructure licensing more agile, but the system does not fully consider the cost of delays in licensing, considering the loss in royalties, investment, job creation, gas availability and gas rates.
Through the National Federation of Departments, Colombia’s governors have held an extraordinary meeting to align themselves and call on the government to release royalty funds assigned in the 2013-14 budget in their entirety.
The Farc attack in mid-April has eroded public support to its lowest point since the start of the peace process in November 2012, a Gallup poll has found.
The liberalization of the market and mass use of the domestic gas network, coupled with pricing decisions made on a political instead of technical or market basis is putting the country’s electrical energy supply at risk argues a newspaper column.
The Ministry of Mines and Energy (MinMinas) says prices will remain stable, while its own think tank questions the cost of subsidies to keep the price from rising.
The government will see a dramatic drop of CoP$20T in income coming from the oil industry that will leave a mark on its budget for 2015. This drop represents two thirds of the CoP$30T it received from the oil industry in 2013. This and other stories on the impact of the fall of prices in our periodic summary.
The new president of the National Hydrocarbons Agency (ANH) Mauricio De la Mora gave his most complete interview to date, and said that the agency is planning to adjust its policies based on the current market conditions.
The Colombian Chamber of Oil Goods and Services (Campetrol) and the Casanare Chamber of Commerce (CCC) signed an agreement as part of the new Oil & Gas Orinoquia services cluster to improve communication and cooperation.
The National Development Plan (PND) now includes specific measures which allow the National Hydrocarbons Agency (ANH) to adjust the contract timeframes and specific investment parameters in order to protect production and reserve growth, and a measure to stabilize natural gas prices.
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