Colombian Finance Minister (MinHacienda) Ricardo Bonilla appeared before the Senate’s Commission IV to introduce a new tax reform bill, known as the “Financing Law.”
Canacol Energy has been thrust into the spotlight as a fraud investigation unfolds, involving the multinational company and its subcontractor Petropolar Sucursal Colombia. Canacol vigorously defends itself, saying that it was a victim of Petropolar.
Primax, one of Colombia’s key energy companies, faced significant hurdles this year, primarily driven by climate-related and logistical issues.
At the beginning of October, the oil and gas industry held its annual three-day summit, this time in Cartagena. Overlapping slightly, the Petro government also held a three-day summit called Feria de las Economias para la Vida (Economies for Life Fair) or FEV. The President and the Minister of Energy at least seemed to position it as the opposite of the Oil and Gas Summit.
The Colombian Association of Large Energy Consumers (Asoenergía) issued a stark warning regarding the significant risks industries face from the ongoing challenges in the gas sector.
A recent report from ANIF, Colombia’s economic research center, highlighted that the country’s current gas reserves will only meet domestic demand for about five more years.
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