Legal insecurity has increased in recent years in Colombia due to lack of clarity in the rules of the game. The Departmental Comptroller’s Office of Cundinamarca ruled on environmental licenses in mining matters.
The union spoke about the successful negotiations with National Oilwell Varco Colombia.
The second round of Colombia’s Presidential Election is over and, as we reported in our newsletter today, Iván Duque will be the country’s next President. See our analysis article for what that will mean for the oil and gas industry. As before, we wanted to see how the top oil-producing departments behaved.
As the polls predicted, the Centro Democrático’s candidate, Iván Duque, won the Colombian Presidential elections and will be sworn into office on August 7th. Investors breathed a collective sigh of relief. Had his opponent, Gustavo Petro, won, uncertainty would have increased considerably.
Ecopetrol (NYSE: EC) reported in new oil spill in Colombia, this time the Magdalena river is affected. The NOC announced the activation of a contingency plan to deal with this situation.
The National Hydrocarbons Agency (ANH) announced a new regulatory framework that would make Colombia’s oil contracts one of the most competitive in the region.
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