A monitoring tool for the general public Maparregalías has been unveiled, and it offers a window into CoP$16.8T (US$5.5B) in royalty resources that have been approved for projects in the first half of 2015, meanwhile a report reveals inefficiency in royalty project execution. These and other stories in our periodic roundup.
Repeatedly cited as one of the drawbacks for the industry, the government announced a new framework for environmental licensing, and the Chamber of Oil Goods and Services (Campetrol) found that the proportion of licenses approved versus those filed has changed since the last year.
Much has been said about the formula used to determine monthly gasoline and diesel prices, especially since the fall of international crude prices. But it is becoming clearer that the Brent and WTI have only a small impact in the Ministry of Mines and Energy (MinMinas) calculations.
Following up on actions in 2014, the Ministry of Mines and Energy (MinMinas) has extended a series of workshops to facilitate better relations between regional authorities, companies and communities, choosing Arauca as the first host for the meetings this year.
GeoPark trains high altitude workers on safety procedures, meanwhile Gran Tierra Energy (TSX:GTE) implements a preventative health and safety campaign. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
The president of Ecopetrol (NYSE:EC) has been promoting cost cutting programs that will clip CoP$1.4T (US$465.7M) from the company’s operational costs and help it confront the price scenario profitably.
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