The oil and mining industry has many challenges in the country and legal uncertainty is one of the major ones. Authorities want to improve it, and they are working to achieve it.
GasYesterday we discussed crude oil production based on the March 2017 MinMinas press release. This release also gives the gas ‘production’ figures and allows us to update this graph.
The National Army and the Fiscal and Customs Police (Polfa) announced positive results in their fight against fuel smuggling from Venezuela to Colombia. However, Ecopetrol´s (NYSE:EC) ‘La Lisama’ camp in Middle Magdalena was attacked once again. The development of these and other stories in our periodic Security Summary.
Eduardo Uribe, Ecopetrol’s (NYSE:EC) vice president of Sustainable Development, gave details on the NOC’s projects within the post-conflict process.
The government is analyzing how to finance the post-conflict in Colombia and one option is to modify the General Royalty System (SGR). Local authorities spoke about the negative consequences this could bring.
The Minister of Environment and Sustainable Development, Luis Gilberto Murillo, presented the integrated land-use policy that provides tools for the proper management of this resource,including the conservation of biodiversity, water, air and risk management.
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