The president of the Colombian Petroleum Association Francisco José Lloreda said that the royalty framework is one of the leading causes of community conflict and must be reviewed, and prior consultation would be better served if handled by the government ahead of awarding blocks.
The president of the Colombian Energy Chamber (CCEnergia) Andrés Taboada said it seems that government entities are dedicating their efforts to creating obstacles to developing exploration and production activities for oil and gas, instead of promoting these investments.
There have been eight consecutive months with production below the coveted million barrels a day mark. While the fall in oil prices is a principal factor, it is just one of the reasons for this fall from grace, which has left its mark on public finances.
President Juan Manuel Santos and Farc commander Rodrigo Londoño alias ‘Timochenko’ signed the peace agreement in a historic session in Cartagena. Now the deal must be approved in a crucial plebiscite this Sunday, October 2nd.
Colombia’s most public (potential) unconventional project, still in its early exploration phase, has been suspended by ConocoPhillips (NYSE:COP) due to a series of blockades in the VMM3 block.
We thought it would be useful for others to read the complete text of ConocoPhilllips (NYSE:COP) statement on the tense situation in San Martin, Cesar. It lays out clearly what the company has done, what the ANH and MinMinas have done, the blockades that arose despite this effort and what the company’s reaction is to the blockades.
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