Authorities in oil producing municipalities were surprised to see that the new royalties’ budget excluded a big part of the resources that president Duque had announced for some regions. These and other stories in our periodic Royalties summary.
Vasconia is the archetypical Colombian crude but its price is not widely published. Instead the popular press and even company financial reports talk about Brent (mostly) and sometimes WTI. The relationship between Brent and Vasconia is not fixed over time.
The General System of Royalties (SGR) has been one of the main discussion topics between the government, communities and oil sector. The last reform to the SGR generated significant conflict with the inhabitants of producing regions. Ivan Duque, President of Colombia, spoke on this issue.
Concerns about a possible shortage of energy in Colombia are rising due to the El Niño phenomenon. However, the energy marketplace, XM, conducted a study on the levels of energy generation with fossil fuels and the results provide peace of mind at the moment.
It has been over a year since the environmental emergency at la La Lizama took place and inhabitants of Barrancabermeja are still worried about pollution issues. The development of these and more stories in our periodic Eco summary.
Ecopetrol (NYSE: EC) announced advances and investments in La Cira-Infantas, one of the most important producing fields in Colombia. The NOC highlighted the increase in oil production in this important area since 2005.
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