The sector is facing a boom of popular referendums, which is creating legal uncertainty among investors. Germán Arce, MinMinas, spoke about the sector and its benefits for country and the department of Meta.
The Ministry of Mines and Energy had announced a reduction in fuel prices for July, but a few days later changed this decision and increased them. The Colombian Federation of Cargo and Logistics Transporters (Colfecar) referred to this switch and gave recommendations.
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.
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