While much of Colombia was watching the national soccer team beat Brazil’s side for the first time ever in a World Cup elimination round, the Constitutional Court gave an important victory to the extractive industries by deciding that royalties are a deductible expense after all. The Petro government had tried to make them non-deductible in last December’s tax reform but the measure was almost immediately challenged in court.
The Ministry of Mines and Energy (MinEnergia) recently unveiled the strides made in the mining-energy sector in La Guajira as part of the citizens’ dialogues, led by Minister Andrés Camacho Morales, aiming to assess the portfolio’s achievements over the past year.
The Vice President of Operations, Royalties, and Participations of the National Hydrocarbons Agency (ANH) has announced Resolution 10981, adopting technical guidelines for evaluating the efficiency of torcheses for natural gas flaring in production.
In pursuit of the agency’s ongoing institutional strengthening strategy for conducting environmental studies in energy and hydrocarbons projects, the Nacional Environmental Licensing Agency (ANLA) has taken actions to enhance the quality of environmental impact assessments (EIAs).
Long-time HCC contributor and industry veteran Tomás de la Calle sent this analysis and commentary on the Petro government’s energy policy. We think you will find it useful.
Despite the Colombian government’s recent decision, led by President Gustavo Petro, to refrain from signing new contracts for oil and natural gas E&P, an announcement is expected to breathe new life into the natural gas sector.
The Colombian Constitutional Court is scheduled to begin deliberations on the constitutionality of a provision in the country’s new tax reform that prohibits the deduction of royalties from taxable income.
In a collaborative effort, the Barranquilla Chamber of Commerce and the Atlántico Inter-Guild have put forth a series of initiatives aimed at strengthening the business fabric of the department and district.
The Ministry of Mines and Energy (MinEnergia) announced a resolution aimed at optimizing the utilization of oil and gas wells drilled in onshore and offshore fields. This move is set to provide a significant boost to hydrocarbon exploration, particularly in natural gas.
Although the Petro government struggles with how soon Colombia can reduce its dependence on hydrocarbons, the goal of reducing escaped or flared gases from production – a contributor to the industry’s Scope 1 CO2e emissions – unites this government with the last one.
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