A law prohibiting the procurement of land within a 5KM diameter of an oil well in Casanare has the titling process of land at a standstill in the department.
Canadian oil producer Parex, posted strong gains in daily production and reserves in the 2Q13, while revenues and profits fell. The company is confident its position and growth in Colombia will continue.
After a number of families raised protests against oil producer Cepcolsa and set up a blockade in the access to a local well, company and community officials met to discuss labor and social guarantees in the Sevilla village.
A number of corporate social responsibility (CSR) projects have been completed or announced over the last few weeks which show a more positive side of community and industry relations. Many are too small to warrant a full story, but together paint a picture of how the oil sector’s resources can benefit local communities.
Transparency International, the NGO that investigates corruption at the national and international level, has published its biannual survey of countries. Given some investor interest in other Latin American countries, we thought the above graph might be illuminating.
Colombia’s economy growth is “unbalanced” and slowing, and the increased supply of shale gas oil could tamper the boom in the country’s energy production in 2-3 years says Sergio Clavijo, director of Colombia’s National Association of Financial Institutions.
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