The USO this week returned to its push to return the Rubiales Field to Ecopetrol (NYSE:EC) and also alleged that powerful forces are using the low price of oil to restructure Ecopetrol and the Ministry of Mines and Energy (MinMinas) against unionized workers.
The exit of National Hydrocarbons Agency (ANH) president Javier Betancourt, though not official via an ANH statement, appears to be a fact, leaving a key vacancy in one of most influential institutions of the hydrocarbons industry in Colombia.
A number of bills affecting the oil & gas industry which were filed in 2014 are set to advance this year along with other pending topics like the low price of oil as Colombia’s congress gets started in 2015.
The Attorney General Eduardo Montealegre sparked a debate this week after he said that a referendum to approve an eventual peace agreement is not necessary, not from a constitutional nor legal standpoint. Instead the government has the power to pass the agreements as a Public Order Law, a power which was renewed by congress last year.
The Colombian Petroleum Association (ACP) says that the impact on E&P activities due to the fall of oil prices will start to make a strong impact on daily crude production, which will likely start to decline in 2016.
The Ministry of Mines and Energy (MinMinas) says that the market manager chosen to track and report on the transactions and operations of natural gas to improve negotiations between the supply chain is up and running.
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