News and AnalysIs for

Colombia’s central bank updated its official numbers for Foreign Direct Investment (FDI) in the petroleum sector and there is good news and bad news.

The Colombian Petroleum Association (ACP) offered up its most detailed defense of fracking in Colombia as one of the important strategies for growth in production in the near future, saying “it is nothing new and can be done safely”.

The Labor Minister Clara López has warned that a profound labor crisis is affecting the departments of Meta, Casanare and Vichada, as 50% of the 120,000 jobs with the oil industry have been lost during 2015 and 2016 thus far.

Representatives of the Colombian Petroleum Association (ACP), its members, the Labor Ministry, the Casanare Government and the Vice Minister of Employment and Pensions Francisco Javier Mejía met to discuss issues affecting Casanare communities. This and other Corporate Social Responsibility (CSR) stories in our periodic summary.

With the second half of 2016 already underway, a promised tax reform from the government could be in the works, and the president of the Colombian Petroleum Association (ACP) outlined the entity’s arguments for greater incentives for the industry in recent interviews.

The Atlántico Department has high hopes for innovation that can be gained from having several potential industries increasing activity at home: agroindustry, offshore exploration, petrochemicals and metalworking.