The Minister of Mines and Energy (MinMinas) announced that 10 experts will define the future of fracking in Colombia. We looked at who was appointed, what might be known about their pre-conceptions and what the implications might be.
The oil sector has invested large amounts to improve its operations and be more efficient. The oil transport has not been left behind and the industry is betting on the technological improvements to achieve economic benefits.
The Colombian government is analyzing several options to generate extra cash in 2019. Alberto Carrasquilla, Minister of Finance (MinHacienda), is preparing a decree to leverage the good financial moment of the oil sector and increase Colombian fiscal resources.
The National Agency of Environmental Licenses (ANLA) said that investors from Chile, Turkey and India, among other countries, are interested in learning about Colombia’s licensing system.
The oil sector continues to face legal and social uncertainty in Colombia. A ‘judicial battle’ between Ecopetrol (NYSE: EC) and people of Tauramena started several years ago due to the result of an anti-oil referendum, and it seems like this process continues, despite a recent court decision in favor of the NOC.
The government policy topic of the quarter for oil producing countries is economic diversification. The IEA says they cannot count on oil revenues and so need to find new sources relatively quickly. Colombia is not an ‘oil country’ but the same debate runs here.