The collapse in global oil prices has led to a steep decline in investment in Colombia’s hydrocarbons sector and reduced the value of its oil exports, depleting a key source of government revenue.
The election of President Mauricio Macri may signal the start of a new era in Argentine energy policy and cooperation with the United States, but the new government still faces challenges to increasing oil and gas production and erasing energy subsidies.
With Brazil’s state oil company Petrobras engulfed in a massive corruption scandal, the government looks poised to introduce an energy sector overhaul.
Think-tank Inter-American Dialogue recently held a closed-door event which brought together Colombia’s new mines and energy minister, Tomás González, with CEOs, industry association heads and regulators.
In the first of a two-part series, Inter-American Dialogue’s energy, climate change and extractive industries program director Lisa Viscidi talks to BNamericas about how the Colombian government is looking to increase oil reserves and maintain competitiveness as Mexico opens its hydrocarbons market.