While the country’s main producing departments, Meta and Casanare had an RRR below 1.0, lower-producing departments had even worse performance, some important ones even were negative.
Community members from Íquira, Huila have called for the environmental license of Telpico to be revoked launching a number of accusations against the process. The local environmental management agency, CAM, is investigating and said that the local ordinance laws (POT) are appropriate for local leaders to control extractive projects.
Controversy surrounds the confirmation of Rodrigo Suarez as President of the National Environmental Licensing Agency (ANLA). Fernando Iregui is still in the chair and some even say he will stay there.
Despite assurances from leaders of the UTEN oil workers union, which affiliated Pacific E&P workers in the Rubiales field, Ecopetrol (NYSE:EC) has confirmed it will not use the UTEN workers, it will hire a completely new workforce, in a victory for the more militant USO union.
With a 5% contribution to Colombia’s GDP, a 25% share of Foreign Direct Investment and 40% of Colombia’s exports, there is little room for discussion of what the industry has contributed in the past. But what does the future hold?
The National Planning Department (DNP) sounded the alarms on 144 royalty funded projects which are in a “critical” state and need immediate intervention to avoid further problems, worth a total of CoP$1.2T (US$400M).