The top 6 producers represented 87% of Colombian production in 4Q13 but it would be wrong to think that they all have their production in the same departments.
After a seven year dispute and hours before a government mandated deadline, miners Drummond and Carrejón have reached an agreement to proceed with the extraction of methane gas associated with a coal deposit in La Guajira.
The reform of the system to distribute royalties from oil and mining have been detrimental to producing regions, forcing them to deal with the environmental and infrastructure issues create by the industries but without the benefit of royalty income, said the Minister of Mines and Energy Amylkar Acosta.
Ecopetrol (NYSE:EC) has released contracting figures for the first quarter of 2014, when the Company contracted 41% more in value terms compared to the same period last year. Bogotá based companies continue to have a greater share of the NOC contracts.
Colombia’s Defense Minister Juan Carlos Pinzón said that thanks to taxes on the mining and oil sectors the country has been able to strengthen its military capacity in three specific areas: equipment and overall capacity, well-being and moral as well as its legal foundations.
The Colombia Canada Chamber of Commerce held its most important academic event recently and while the oil and gas sector was not supposed to be featured this year, there turned out to be much back and forth between industry and government representatives.
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