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.
According to the NOC’s representatives, Ecopetrol (NYSE:EC) modified its management structure to align it with its current stage of growth and competitiveness.
The Extractive Industry Transparency Initiative (EITI) confirmed that Colombia is the first country in the continent to reach the ‘satisfactory progress’ category.
The National Administrative Department of Statistics (DANE) reported the value of Colombian exports in May. This increased compared to the same period last year and the extractive sector played a key role in this behavior.
The outlook for the Oil Saving and Stabilization Fund (FAEP) and the Fuel Price Stabilization Fund (FEPC) in the short and medium term is not encouraging, according to projections by the Ministry of Finance (MinHacienda).
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