The administration of the Minister of Mines and Energy Germán Arce has opted for a different approach to figuring monthly fuel prices to keep the changes to the minimum, and is now studying how to change the pricing formula to remain as stable as possible.
Time is ticking on the peace agreements. President Juan Manuel Santos has extended the bilateral cease fire to December 31st and is accepting commentary and suggestions, but the path to a political consensus to accept the agreements is not yet clear.
GasWhile the use of natural gas grows as a primary source of energy for domestic and industrial use, the unit price of gas has also been increasing, even growing 20% in 2015 compared to the previous year.
Billed as one of the most modern ports the country will have, the Barrancabermeja port is nearly finished and could start operations in January 2017 at full capacity.
The graph shows the history of contracts signed by the National Hydrocarbons Agency (ANH). The post-2014 record is not inspiring.
The government is planning to include a “tax return certificate” as part of its offer to the oil and mining industry in its pending tax reform, in an effort to improve company cash flow.
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