The oil industry is not the only sector to suffer from constant blockades and protests. Mining projects, electrical lines and new highways have all suffered delays due to an increasing conflictive community relationship.
A new law signed by President Juan Manuel Santos will allow departments to apply royalty funds to bills for additional health care, and cover outstanding debts with service providers and insurers, an area where a number of departments are suffering financially.
Low prices have led to a number of closures and cutbacks in the oil industry’s investments and productions. According to numbers from the National Hydrocarbons Agency (ANH), this combined impact has shuttered 15 fields and represents a loss of 20,000bd on average.
We updated our Quick Colombian Committed Producers Share Price Index for 2Q16 and things are looking better.
I was invited to the recent launch of four academic reports on the Colombian countryside, commissioned by the National Hydrocarbons Agency (ANH), coordinated and paid for by the United Nations Development Program (UNDP in English, PNUD in Spanish).
Fuel shortages, imported gasoline, a protested related death, soaring food prices, accusations of corruption and violence along Colombian roads are just a few of the consequences reported from the truckers’ strike that is already well into its second month.
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