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Regulations & Policy

ACP expects 830,000bd on average as expectations drop

The government might still be holding onto expectations that daily oil production in Colombia from 2014-2024 will average 1.062mmbd, but the Colombian Petroleum Association (ACP) already has scaled down its expectations to a more conservative figure.

Monday, August 18th, 2014
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MinMinas: Communities must see royalties

In one of his first interviews as the new Minister of Mines and Energy, Tomás González says that in order for communities to feel a “legitimate” benefit from oil activities near their homes, they must see the impact of royalties.

Thursday, August 14th, 2014
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Yopal Municipality calls for taxes on oil operators to compensate for lost royalties

The Municipality of Yopal is promoting a change in tax laws that would allow it (and others) to levy a municipal industry and commerce tax on oil operator revenues. Currently they are exempt from the tax since they are already paying royalties based on their production.

Wednesday, August 13th, 2014
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Environmental Round Up: Casanare Drought Debate Continues

A report issued last week by Colombia’s General Controller placing the responsibility for a drought earlier this year on the shoulders of the oil industry in Casanare has brought the issue back to the front pages, as critics call for greater restrictions on seismic exploration while oil authorities push back.

Wednesday, August 13th, 2014
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Fuel prices hold stable for August

Fuel prices hold stable for August

The Ministry of Mines and Energy (MinMinas) says no changes will be made to the reference fuel price, pointing out that over the last year fuel prices have grown by less than 1% in the case of gasoline and 1.8% for diesel.

Tuesday, August 12th, 2014
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Santos shakes up his cabinet, Acosta out as MinMinas

President Juan Manuel Santos named a new cabinet Monday evening which included several changes relevant to the oil industry, Amylkar Acosta steps down as the Minister of Mines and Energy and will be replaced by Tomás González.

Tuesday, August 12th, 2014
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Campetrol, oil firms sign anti-corruption pact

The Colombian Chamber of Oil Goods & Services (Campetrol) has led an agreement signed between its 191 members that looks to denounce and prevent cases of corruption in the oil industry.

Monday, August 11th, 2014
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MinMinas meeting with coal miners to discuss CBM

The Ministry of Mines and Energy (MinMinas) will meet this week with representatives of coal miners Cerrejón and Drummond, as well as Ecopetrol (NYSE:EC) to discuss Coal Bed Methane (CBM) that has been the center of conflict between the two coal miners over an unclear concession.

Monday, August 11th, 2014
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Colombia’s General Controller fingers the oil industry for Casanare drought

The General Controller’s office has issued a report that blames a number of manmade influences, including oil production, livestock and rice plantations, for the Casanare drought earlier this year, but singled out seismic activity and the drilling of wells as the main responsible action for the drought.

Wednesday, August 6th, 2014
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Royalty Round-up: Expo, Meta OCAD, Santander example

The National Planning Department and other authorizes have organized an expo for regional entities on the royalty system, while Meta finally has its OCAD review. Producing regions might not like the new royalty system, but other regions, such as Sabana de Torres, Santander, have used it to their advantage. These and other stories in our routine round-up of royalty related stories.

Tuesday, August 5th, 2014
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