Former ombudsman (Defensor del Pueblo) Carlos Negret says the country is in the same situation it was in 1998. In Cauca, where he hails from, he is probably right. There are other similarities, like a peace process going nowhere it seems, but some differences.
In alignment with the policies of President Gustavo Petro’s administration, fracking projects in Colombia are no longer a focus. However, Ecopetrol (NYSE: EC) is exploring alternative methods to increase its oil and gas production and reserves.
In a significant move to bolster confidence among foreign investors, Colombia’s Minister of Commerce, Industry, and Tourism, Germán Umaña, assured Spanish entrepreneurs, that the country is committed to respecting foreign investments.
The aspiration to elevate Colombia’s oil production to 1,00mbd, as recently reiterated by the Minister of Finance (MinHacienda), Ricardo Bonilla, has been a focal point of government strategy.
The Ministry of Mines and Energy (MinEnergia) released a draft resolution outlining the criteria and minimum requirements for the construction of electric and gas projects under the “Work for Taxes” mechanism.
The Colombian Association of Petroleum and Gas (ACP) will host the third edition of the “Hechos de Sostenibilidad” (Sustainability Facts) Grand Forum in Barranquilla.
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