The 23 municipalities that have popular consultation processes against oil activities might jeopardize the production of around 120mbd, and the future of at least 14 exploration projects.
With the aim of boosting the national economy, the government will speed up the implementation of un-used royalties during the second half of this year, and will seek to approve hundreds of projects in all regions. These and other stories in our periodic Royalties summary.
Anti-oil and mining referendums have raised concerns among investors and private companies, their investments and many projects are in limbo because of these popular mechanisms. Canacol Energy (TSX: CNE) referred to current situation and give its opinion.
Colombia aims to increase natural gas production and there are many plans to achieve it in the short and medium term. Four companies have gas projects to develop in the Lower Magdalena Valley (VIM) during the next nine months.
Ecopetrol (NYSE:EC) rejected the terrorist attack that took place in Teorama (Norte de Santander.) Besides causing fear among the locals, the act affected backhoe loaders of the Company Termotécnica Coindustrial. The development of these and other stories in our periodic Security Summary.
Colombia’s Central Bank (Banrep) released 1Q17 Foreign Direct Investment (FDI) figures for the country. This increased in the sector compared to same period last year, despite current legal uncertainty and social unrest.
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