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Send the money and we will figure out what to do with it afterward

It apparently only dawned on President Juan Manuel Santos last week at the annual mayors’ meeting that the new royalty system had left some producer municipalities without funds. This is the fourth of four articles we have published this week as the government tries to solve in a matter of days, a problem that has built up over a year. From a DNP press release, translated and with commentary by Hydrocarbons Colombia.

Thursday, April 25th, 2013
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Mind the gap Oil prices stable for now

Mind the gap Oil prices stable for now

We do not usually comment on global petroleum trends but having stared at this graph for weeks now we thought it worth publishing. It shows weekly closing prices for the two most commonly discussed benchmark prices – WTI and Brent – in US dollars going back to just about a year before the collapse of Lehman Brothers, the generally accepted start of the current financial crisis.

Thursday, April 25th, 2013
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Colombia to move crude oil through Ecuador

It was widely reported in the Colombian press that Colombia and Ecuador signed an agreement for Colombian oil transportation by the Heavy Crude Pipeline (OCP) located in Ecuadorian territory. The purpose is to provide an alternative to the frequently interrupted TransAndino Pipeline.

Thursday, April 25th, 2013
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Colombia to move crude oil through Ecuador

It was widely reported in the Colombian press that Colombia and Ecuador signed an agreement for Colombian oil transportation by the Heavy Crude Pipeline (OCP) located in Ecuadorian territory. The purpose is to provide an alternative to the frequently interrupted TransAndino Pipeline.

Thursday, April 25th, 2013
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Peace talks underway again in Havana

The eighth round of peace talks between the government and the FARC began on Tuesday in Havana. Humberto de la Calle, chief negotiator of the government, said he has the “purpose of making decisions.”

Thursday, April 25th, 2013
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Comptroller General recovers misdirected royalty money from Meta and Casanare

As reported by Portafolio, the Comptroller General recovered US$4.1M from royalties through its audit program. The payment of this money was made by the insurer QBE, guarantor of the royalties in the departments of Meta and Casanare. According to the Comptroller, both departments made “risky fiduciary operations”, in which public money was put into a trust constituted by private individuals and got lost by not returning to the corresponding territorial public funds.

Wednesday, April 24th, 2013
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