Colombia s Petro to name Camacho energy minister - source, local media reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Premium Content
Colombia’s Oil Industry Could Stage A Comeback In 2021 By Matthew Smith - Dec 20, 2020, 4:00 PM CST
The last year has been rough for Colombia’s economically vital petroleum industry. Toward the end of 2019 and at the start of 2020 government and industry bodies were expecting a strong 2020 for the country’s hydrocarbon sector. The Andean country’s peak industry body the Colombian Petroleum Association (ACP – Spanish initials) initially anticipated a notable 23% year over year increase in investment to just shy of $5 billion. It was anticipated that would lead to an average daily production during 2020 of 890,000 barrels daily. Despite this optimism, exploration and production activity collapsed due to the twin-impact of the country’s COVID-19 lockdown and sharply weaker oil prices. By May 2020 Colombia’s oil production had fallen off a cliff plunging to a multi-year low of 742,000 barrels daily. Natural gas output also declined, dropping to
Cameroon establishes Sonamines, a national mining company
(Business in Cameroon) - Yesterday December 14, 2020, President Paul Biya signed a decree creating the National Mining Company (Sonamines). According to the presidential decree, Sonamines is a public company with the state as its sole shareholder. However, the decree states,
the shareholding of Sonamines may be open to other public or private entities. The capital and the conditions for participation in the shareholding of the public company will be set in the statuses.
The decree explains that Sonamines mission is to develop and promote the mining sector and to manage the State s interests in this field. Hydrocarbons (which fall under the jurisdiction of the National Hydrocarbon Company-SNH) and quarries (which are to be managed by the communes per the General Code of Decentralized Territorial Collectivities-CTD) are excluded from the scope of the new institution.