CEO Felipe Bayón spoke about the NOC’s plans in the Middle Magdalena (Santander); an area with great potential.
Several years ago, the people of Tauramena (Casanare) voted to prohibit oil activities in their region through a popular referendum. Ecopetrol (NYSE: EC) began a ‘judicial battle’ to reverse this decision and Colombian authorities have just made a decision on the case.
Better prices should translate into better royalties’ resources for producing regions, but there are other sectors pushing for the money. These and other stories in our periodic Royalties summary.
Colombia’s Central Bank (Banrep) released 2Q18 Foreign Direct Investment (FDI) figures for the country. This decreased in the sector compared to same period last year but increased compared to 1Q18. Total FDI grew in Colombia.
Better prices bring better opportunities for the regions, or at least that is what Minister of Mines and Energy (MinMinas), Maria Fernanda Suarez, said when talking about Infrastructure for royalties.
President Duque promised to boost the growth of the extractive sector in the country, and he is about to complete 100 days in government. Representatives of the sector spoke about the actions to boost the industry during these first months.
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