The outgoing director of the Energy and Gas Regulation Commission (CREG) Carlos Fernando Eraso says that the new regulatory framework in place for the natural gas industry means that companies have no impediment to investment in the sector.
The Ministry of Mines and Energy has published fuel prices for the month of October, which will see a slight increase in both unleaded gasoline and diesel, the latter a result of increased biodiesel prices.
Meta Senator Maritza Martinez continues her push to modify the laws governing the General Royalty System (SGR), and said in a press interview that only 6% of approved royalty funds have been executed since the entry of the new system.
A number of Senators have dragged up old, incorrect and unsubstantiated claims, accusing the mining and oil industries of dodging taxes and hurting the national economy, claiming that up to CoP$30T (US$14.8B) of state funds have been lost. The senators also rejected the presence of vice ministers to comment on their accusations.
The future river port on the banks of the Magdalena River in Barrancabermeja being built by port and logistics firm Impala is now 40% finished, and company management expects to meet their deadlines and have started early operations before the end of 2014.
Ecopetrol (NYSE:EC) is considering building an additional regasification plant in order to protect against supply deficits that could affect the country starting in 2018.
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