The General Royalty System (SGR) continues into its second year and there is no shortage of critics for the system, but it also has its supporters as well. Over the week a lineup of editorial opinions and press reports have addressed the royalties and the system used to control and award them.
Parex Resources celebrated the “day of oxygen” and donated trees to local communities, while Equion backs woman entrepreneurs and Ecopetrol helps build a classroom. These and other Corporate Responsibility (CSR) stories from Colombian press.
The National Hydrocarbons Agency has published a letter confirming that it has reached an agreement with Pacific Rubiales Energy (TSX:PRE) and will proceed with termination of its concession contract in the Rio Ceibas basin (VSM-13), to the delight of the local community.
Starting at the beginning of May Colombia cut off gas exports to neighboring Venezuela to guarantee a constant supply of the resource considering the El Niño weather phenomenon. Venezuelan authorities are less than pleased and say the decision could impact its supply to Colombia in the future.
Through a joint effort between the Ministry of Mines and Energy (MinMinas) and the Ministry of Environment (MinAmbiente), a new process including additional requirements will be required for companies to perform seismic tests for exploration.
The USO and Ecopetrol have taken another step towards the negotiation of a new collective bargaining agreement after formally resigning from the current, standing agreement.
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