The national government created the Bolsa de la Paz (literally: Peace Allocation) to distribute these resources around the country, as long as the municipalities meet certain requirements. There are several regions ready to receive the resources.
The continuous increase in fuels price generates discontent in the majority of the population in Colombia. The government gives no justification or few explanations for increased prices. National business newspaper La Republica conducted a survey of fuel prices in Bogotá service stations.
The Audience took place in Yopal, where Gran Tierra (TSX: GTE) presented a proposal supported by Orinoquia’s Regional Autonomous Corporation (Corporinoquia).
GeoPark (NYSE: GPRK), Equión and Ecopetrol (NYSE:EC), among others, reported on their social investment projects in the departments of Casanare, Meta and Santander.These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
Most of the General System of Royalties (SGR) budget goes to the areas of infrastructure, education, culture, sport and recreation, mines and energy, and agriculture.
The offshore sector is the great hope of the Colombian government to guarantee self-sufficiency in the long term (at least in gas). Authorities are working on the regulation to approve the development of these projects and Luis Gilberto Murillo, MinAmbiente, spoke on this topic.
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