ANH President Mauricio de la Mora was practically exuberant at a ceremony in the ANH’s offices on Wednesday. And why not? Canacol (TSX:CNE) and ConocoPhillips (NYSE:COP) were signing the agency’s first additional unconventional contract and victory had been snatched from the jaws of defeat.
The National Planning Department (DNP) has formalized modifications to the General Royalty System (SGR) and published a statement that outlines the changes and the rational for making them.
Ecopetrol (NYSE:EC) held a shareholders meeting in Medellín and said that it would strengthen its exploration activities abroad, setting an investment goal per year of US$1.25B on average, destined for the Gulf of Mexico, Peru, Brazil and Colombia’s offshore blocks.
The Minister of Mines and Energy Tomás González said the government has agreed to link the natural gas price for the Caribbean coast to the WTI crude oil price index and to start infrastructure work to connect the region. Meanwhile the Colombian Petroleum Association (ACP) blasted the pricing modifications as a change of the rules, and questioned what would happen when WTI rises again.
A Casanare tribunal declared a recent public hearing a failure after community leaders from the village of Tesoro Buby in Aguazul rejected a proposal from Perenco on the grounds it does not address all of their claims. The company said the proposal exceeds its responsibility.
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