With the aim of assuring a better distribution of royalties’ resources for the regions,Santander’s Governor Didier Tavera proposed a reform to the General System of Royalties (SGR). These and other stories in our periodic Royalties summary.
A study by the Colombian Petroleum Association (ACP) said that most of the investments planned for next year will go to the development of onshore projects.
Ecopetrol (NYSE: EC) announced a new oil discovery in the Middle Magdalena Valley Basin (VMM) in the department of Santander.
The boom of anti-oil and mining referendums put at risk the development of these important sectors. The situation generated a lot of uncertainty, stopping operations in several municipalities around the country. However, it seems like things are calming down.
The Colombian oil sector had a difficult year as a result of social and legal problems. The country will have elections in 2018 and the industry is concerned about the results of this process.
German Arce, Minister of Mines and Energy (MinMinas), spoke about the possibility of implementing unconventional techniques and the consequences if these are not approved.
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