UPDATED — Colombia’s Supreme Court has ruled the current pricing scheme in which the presidential administration smooths prices is unconstitutional. Instead any mechanism should fall to congress. Meanwhile the Liberal Party pushes the new mines and energy minister to study a decrease in fuel prices.
Amylkar Acosta has been named to head the Ministry of Mines and Energy (MinMinas) but just before his appointment he laid bare his views on the energy and mining boom and its consequences in a thorough interview.
In order to combat illegal fuel sales of Venezuelan fuel in Colombian territory, Venezuelan authorities have agreed to increase fuel prices and restart sales along the common border in La Guajira Department.
Luz Elena Sarmiento just got a promotion, moving from director of the National Environmental Licensing Agency (ANLA) to Colombia’s environmental minister. Here is a look at her past spent as an environmental specialist and community relations representative to the sector’s greatest powers.
In one of his last acts as mining and energy ministry, Federico Renjifo Veléz told press at the 2013 press gathering organized by natural gas association Naturgas that the government’s policy going forward will focus on liberalizing prices from the La Guajira field and building more regasification infrastructure. Will the new minister, a native from La Guajira, change this?
MinMinas announced August crude oil production was 1,031mbd, yet another record month. But the expectation on August 21st was for something much higher.
Four congressional representatives in Colombia’s lower house submitted a tax bill that looks to add industry and commerce taxes to extractive industries, arguing that it would benefit municipal entities outside established royalties.
Ecopetrol’s president Javier Gutiérrez says that the NOC’s refining business is already operating at a lost in some cases and a drop in the final price between CoP$1000-2000 would mean losses for the company around US$1.75B.
The General Royalty System (SGR), through its decision-making body (OCAD) awarded funding to projects on a number of occasions over August. A particular focus was placed on the coffee growing regions, which are at the center of the ongoing national strike. Royalty funds were also addressed by a senator as way to lower fuel prices and offer funds to agricultural sectors as well.
The price of fuel has emerged from the ongoing national strike as a central theme for discord. One proposal is to rehash the formula used to figure fuel prices and reduce taxes. Greater user of pipelines to transport crude also arose as a option.
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