The development of unconventional deposits is one of the main strategies to increase reserves and production of oil and gas in Colombia. Ecopetrol (NYSE: EC) initiated a legal process to develop these projects in the country.
Julio Cesar Vera, president of the Colombian Association of Petroleum Engineers (Acipet), wrote an Op-Ed to highlight important aspects of the industry in the country.
Official studies show that the Amazon occupies 42.3% of the Colombian territory. Implementing popular consultations in the area is far from easy.
Ivan Duque, President of Colombia, spoke about the advances in issues related to royalties’ resources since his administration began in an event about the Collegiate Body of Administration and Decision (OCAD). He announced a project to change the General System of Royalties (SGR).
Through a ruling, the Constitutional Court said that popular consultations can no longer forbid or decide on the future of industry activities in the regions. Where do communities stand now?
Colombia is a member of the Extractive Industry Transparency Initiative (EITI) and the Ministry of Mines and Energy (MinMinas) participated in Board # 41 of this organization. The country introduced its representative for the EITI.
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