The USO claims workers have been pressured by anti-union forces in its attempt to negotiate entry to Pacific Rubiales Energy (TSX:PRE) through blackmail, and has taken to the international community to up pressure on authorities.
At one time in late May, there was a hope that oil prices were rebounding, that somewhat like 2008/2009 there would be a rapid so-called ‘V-shaped’ recovery.
Pacific Rubiales (TSX:PRE) is worth only 11% of its value at its peak, and according to an analyst report must take quick decisive action to persevere into the future. But even with prompt action, looming obstacles remain.
Designed to boost the government’s fiscal income, the November 2014 tax reform and resulting increase in the CREE surcharge has created a strong disincentive for investment that will end up causing much more harm to state finances, says the Colombian Chamber of Oil Goods and Services (Campetrol).
The Ministry of Environment (MinAmbiente) led by its Minister Gabriel Vallejo López and Colombian President Juan Manuel Santos held a review of its performance over the last five years and laid out goals for the next three, but had nothing to say on the issue of environmental licenses.
President Santos ordered a suspension of air raids against Farc camps in order to de-escalate the armed conflict and in response to the guerrilla’s unilateral ceasefire.
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