It is only a commitment to study the issue, but the Colombian government finally seems to admit there is a problem with the tax system that inhibits investment in exploration and development.
For us, last week was the last of the quarter because we use Friday closing prices for our tracking. Traders feared the impact on demand of a ‘Grexit’ and Baker Hughes North American rig counts finished higher for the first time in this year.
The toll of the latest Farc offensive, one with grave environmental consequences, has shown itself in a recent Gallup poll which found that 46% of Colombians support a military-led approach to defeating the Farc, one percentage point above those who favor negotiations.
Nothing seems to be 100% sure in the natural gas industry. Will a recent call for comments from the Ministry of Mines and Energy (MinMinas) on a planned resolution regarding planning for future gas consumption trends help clear things up?
The Minister of Mines and Energy Tomás González formally presented 10 measures designed to improve the competitiveness of the mining and hydrocarbons industry, pointing to their strategic role in the Colombian economy.
The Energy and Gas Regulation Commission (CREG) has approved a change that allows Ecopetrol (NYSE:EC) to fix propane cylinder prices based on the internal price of natural gas, a move which the propane distribution association Gasnova says will hurt Colombia’s poorest.
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