Iván Duque, President-elected of Colombia, made several economic proposals to improve the country’s development including lowering corporate taxes. The business paper Dinero analyzed the feasibility of these proposals.
Through a statement, the union protested arguing that Ecopetrol (NYSE: EC) still pays wages and provides benefits to officials involved in the ‘Reficar scandal’.
A few weeks ago, we looked at BP’s recently published annual statistical summary of the global energy market. At that time, we did some country-by-country comparisons in a static view. This week we look at changes over time, within Latin America.
A few weeks ago, the National Hydrocarbons Agency (“ANH”) published its new model contract for offshore exploration and production activities. Although some parameters are specific to offshore, others reflect how the Agency’s thinking has evolved since 2014, the last time it held a block auction to award offshore areas. Norton Rose Fulbright Colombia’s oil & gas team volunteered to write this summary.
The country showed a decrease in its economic growth in 2017, but the recovery of oil prices has generated positive expectations for this year. Juan Manuel Santos, President of Colombia, could end his administration with signs of economic recovery.
The National Hydrocarbons Agency (ANH) planned to carry out seismic research in Boyacá, but the public became convinced that the project would lead to fracking, generating a great discussion and social unrest. The ANH is said to have decided to suspend the project.
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