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.
The company will focus on investments in four main areas: social development, improving productive capacity, developing sustainable environments and strengthening public management.
Anti-oil and mining referendums continue in different regions of the country and it is affecting mining and oil projects. Arbeláez and Pijao carried out these legal mechanisms to allow or reject the development of the mining and oil industry in their territories. As expected, the results were negative for the sectors.
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