Colombia has done little exploratory activity in recent years due to the oil crisis, insecurity and social conflict. However, the country must improve on this issue as soon as possible to resolve concerns about self-sufficiency.
The boom of anti-oil referendums in producing regions keeps generating concerns in the industry. The municipalities are still trying to develop these mechanisms (despite the Constitutional Court’s ruling that they have no force) and the Yopal Council ruled on this issue.
Ecopetrol (NYSE:EC) spoke about its successful social investment projects in Arauca, Meta and Putumayo. These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
Oil prices and the value of the dollar are two of the main variables that drive the Colombian public finances. Expectations for these metrics are not encouraging for this year, and this situation could affect the country’s public finances.