True, he is not going to give any more money to producing regions but they will be able to spend direct royalty money as they please, without having to go through the OCAD approval process.
After a brutal campaign that left many Colombians thinking about voting for ‘none-of-the-above’, President Juan Manuel Santos was reelected meaning we expect continuity in the current government’s policies.
The ICP (Colombian Petroleum Institute) has been around for 29 years and now is looking at both expanding its capabilities and decentralizing its operations.
The USO charges that the community’s rejection of a renewal of the association contract for the Rubiales field has prompted the arrival of some 700 paramilitary soldiers to intimidate local residents and the union ahead of a pending decision on the future of the field’s production.
Using Occidental (NYSE:OXY) as an example, an outspoken critic of the oil industry argues in a column that the government and controller must review association contracts renewed during President Uribe’s term because the formula to figure the state’s share is outdated, and apply the lessons to contracts up for renewal, such as Rubiales.
Colombia’s state training agency Sena has unveiled the installation of a specialized “industrial instrumentation room” in Huila, the fifth such facility in the country and part of a strategy to improve local talent in hydrocarbon matters.
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