The mining and energy boom has brought economic benefits says Senator Jose Name, who also charges that the industry has destabilized the Colombian peso, wrecked local agriculture and carries grave social and environmental risks.
Incidents near areas of interest to the oil and gas industry were down slightly to 27 below recent and long-term averages. Non-Armed Forces-reported incidents were below average both in absolute terms and as a percentage of the total. This is our indicator of increased guerrilla-initiated activity. Our 4-week Moving Average incident count was down at 33.8 and the 52 week average was also down at 31.2 incidents per week.
Gran Tierra (TSX:GTE) had teased us with an announcement about its reserve additions in Peru but this week both it and Parex (TSX:PXT) published their full reports on reserves, including detail on Colombia in the case of GTE.
The controversy from last week’s headline’s that government agents were spying on delegates at the roundtable in Havana, Cuba did not spill over into this week, as congressional members look to alternatives to speed the stalling talks.
Local communities are not only active players in the extraction process they are also important for the process to be successful, and to do so agreements must be made and the government should play a strong role as observer and ensure that in detail that promises are met on both sides, according to an executive with Pacific Rubiales Energy (TSX:PRE).
The National Environmental Licensing Authority (ANLA) has issued a decree that simplifies the requirements needed to gather specimens needed for environmental permitting and licenses, a step in the process whose catch-22 has dogged the environmental process for hydrocarbon companies.
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