The Ministry of Mines and Energy inaugurated the first business conference in the gas sector involving producers, transport companies, distributors and local suppliers. Seventy companies responded to the call made by Naturgas —the association of natural gas distributors, producers, transporters and retailers.
This was a big week for corporate results with five more companies reporting.
The Colombia-Canada Chamber of Commerce’s Dialogue Canada event on Thursday, November 15, 2012 offered its attendees a rare treat: the chance to see the head of the National Hydrocarbons Agency (ANH), Orlando Cabrales, Pacific Rubiales’ Jose Francisco Arata, Talisman’s Chris Spaulding and Petrominerales’ Jack Scott all on the same stage.
As reported by newspaper El Nuevo Siglo, according to the Central Bank (Banco de la República), US$11.411M of the US$13.988M invested by foreigner entrepreneurs in Colombia between January and October 2012, were directed to the mining and hydrocarbons industries. These two sectors offer the greatest growth of foreign investment in the country.
The Ministry of Agriculture and Rural Development reported that the government will allocate CoP$107B (US$59M) in royalties to fund projects in science, technology and innovation. These projects are aimed at foods like avocado, cocoa, milk, coffee, sugarcane, and fruits, and matters of farming, bioenergy, fisheries and promising species.
Prior Consultation is a constitutional right of Colombian ethnic groups. This right requires them to be consulted before the development of projects that may impact their sacred territories. However, many indigenous groups complain that neither the government nor the oil and mining companies respect this right
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