The Minister of Mines and Energy (MinEnergia), Irene Vélez, talked about oil and gas exploration contracts.
The Comptroller General, Carlos Hernan Rodriguez, spoke about the controversy over the possibility of stopping oil and gas exploration in the country.
President Gustavo Petro gave a speech at the United Nations Climate Change Conference 2022 (COP27).
The third and fourth commissions of the Senate and the House of Representatives approved, in a first debate, the budget for the General Royalties System (SGR).
Spanish congressman Nicolás González visited Colombia and spoke about natural gas as a sustainable energy, and of the negative effects of setting high decarbonization goals.
The Colombian House of Representatives approved the article of the tax reform that closes the door for oil and mining companies to deduct royalty payments from their income tax.
ACP’s Francisco Lloreda spoke about the energy transition process, the tax reform and the uncertainty generated by the new government.
The tax reform includes modifications to the carbon tax, a levy on the carbon equivalent content (CO2eq) of all fossil fuels in the country.
One of the key questions underlying the debate about the oil and gas industry in Colombia concerns when demand will peak and so for how long can public finances count on the flow of exports and tax revenues. Gustavo Petro’s “Illuminati” believe we all should stop using fossil fuels today and stop producing the stuff. More pragmatic observers think it too soon to (as some headlines put it) kill the goose that lays the golden eggs. Recently the International Energy Agency (IEA) weighed in with its view, based on various climate change scenarios.
The Autonomous Fiscal Rule Committee (CARF) talked about the risks of halting oil exploration in the country.
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