Acipet, the petroleum engineers’ association has been an important voice in defense of the industry’s interests. Here, the organization’s Chairman of the Board, Carlos Alberto Leal Niño, argues that the important work of transitioning away from fossil fuels in the future should be financed by developing the country’s hydrocarbons today.
President Iván Duque opened the event where the government introduced the Mission of Experts that will lead Colombia’s energy transition process.
Ministry of Finance (MinHacienda) Alberto Carrasquilla said that the government is analyzing the option of developing an oil hedge program at the end of the year. Ecopetrol’s (NYSE: EC) CEO, Felipe Bayón, spoke on the matter.
CEO Felipe Bayón spoke about Ecopetrol’s (NYS:EC) positive financial results during the first quarter of the year.
The offshore industry has been popular among top global firms who decided to bet on Colombia’s Caribbean area. The ANH thinks new blocks in the Pacific might have just as much success.
Last week was a controversial one in Colombia’s congress with the ongoing battle over peace process implementation, approval of royalty reform in its opening debate and the final authorization of the government’s long-term economic plan (known as the PND for its initials in Spanish). The press reacted strongly to a clause about fracking but the politics of how one newspaper reacted was surprising, to me at least.
The Fuel Price Stabilization Fund (FEPC) deficit has been one of the main issues in recent years, as it continues to grow without a possible solution. However, this deficit could have a considerable reduction.