The granting of an environmental license for production blocks in the north of the Caquetá Department has local authorities, communities and press sounding the alarm and now a committee has been formed to address production in the area.
Three decades ago the first barrel of crude was extracted from the Caño Limón well in Arauca, and a national paper traces the good, the bad and the terrible that oil production has brought to the department, and its role in the national industry.
The USO said that its presence has been critical to support community residents in Monterrey, Aguazul and Tauramena who are protesting Ecopetrol’s decision to eliminate transportation for contractor workers, which it says is another sign of the NOC using the oil price crisis as an excuse to weaken worker rights.
We extended our quarterly analysis of Colombia Committed stocks from December 31, 2015 to January 20, 2016 so we could capture any significant movement due to the deeper slide in oil prices so far this year as well as Pacific E&P’s (TSX:PRE) roller coaster this month.
The president of the World Bank Jim Yong Kim said in a seminar held in the presidential palace that Colombia is the best positioned oil producer in the world to successfully deal with the challenges facing the oil industry today.
Senate President Luis Fernando Velasco has again called on the government to lower prices and accept a court ruling from December 2015 which deemed a fuel price stabilization tax from the last tax reform was not properly vetted. He says it would lower the fuel prices by CoP$1000 (US$0.30).
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