The government announced the nomination of a new expert for the Energy and Gas Regulatory Commission (CREG).
Oil and natural gas companies in Colombia are required to pay royalties to the state, which are then distributed among municipalities and departments to finance projects aimed at improving the quality of life for Colombians. However, in recent years, the expected royalty revenues have not been met, despite stable production levels.
A legal process against Colombia’s Ministry of Mines and Energy (MinEnergia) and the National Hydrocarbons Agency (ANH), spearheaded by Diego Fernando Forero González seeks to nullify the regulation that assigned new functions to the entity.
The Petro administration announced a significant economic reactivation plan that will allocate funds from royalties to various industrial, tourism, housing, energy, agricultural, and construction sectors.
Frequent contributor Tomás de la Calle brings us his overview of 100 years of Colombian government oil industry policy. He tells us to look at the history in terms of three distinct ages: The Ancient Age, The Elephants Age and The Capybaras Age.
Colombia is poised for significant growth in its agricultural sector, particularly in the production of ethanol from sugarcane.
Finance Minister (MinHacienda) Ricardo Bonilla outlined the government’s strategy for economic recovery, indicating that recent national economic figures and expert estimations suggest the country “has entered a path of recovery.”
The Ministry of Environment (MinAmbiente) released a draft resolution aimed at updating the “Environmental Management Guide for Oil and Gas Well Drilling Projects.”
Amid the fiscal crisis that prompted the Colombian government to cut this year’s budget by CoP$20T, the Center for Economic Studies (Anif) published a recent report detailing the impact of the last two tax reforms.
The Petro administration’s policy of no new hydrocarbon exploration contracts has ignited debates about the future of Colombia’s energy sovereignty.
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