An attempt by congressional members to place a tax on natural gas brought about a quick rejection from the Colombian Natural Gas Association (Naturgas). Lawmakers appear to have backed down, but it raises a number of questions as to the tax strategy for fossil fuels.
Ecopetrol (NYSE:EC) budgeted over CoP$10B for projects to improve the conditions and quality of life in communities of Meta, Casanare and Vichada. These and other Corporate Social Responsibility (CSR) projects in our periodic summary.
With the recovery of oil prices, GeoPark (NYSE:GPRK), which has been in the country for four years, has positive prospects for 2017.
A port investment group (PIO SAS), is pushing forward to build Colombia’s second regasification plant called Puerto Solo, which would be located in Buenaventura, following the inauguration of Colombia’s first regasification plant Puerto Cayo in Cartagena.
The National Hydrocarbons Agency (ANH) expects oil price improvements to give a boost to exploration activities in 2017, and that in Colombia there will be more than 40 exploratory wells next year.
The USO is the union for Ecopetrol (NYSE:EC) workers and, perhaps surprisingly, one of the loudest voices against the oil industry and the ‘evil multinationals’ who dare to operate in Colombia.
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