Colombian government's proposed oil sector reforms
Arrow flies against Colombian headwinds
The company does not seem concerned about the effect on its growth plans of the new government’s proposed oil sector reforms, and is even looking at potential acquisitions
The new Colombian government has moderated its stance towards the oil and gas sector since it came to power in August last year, Canadian independent Arrow Exploration tells Petroleum Economist. The country’s new president, Gustavo Petro, said in the run-up to his election that his administration would not issue any new exploration licences. But “since he has been elected, he has softened his stance” on the issue, says Arrow CFO Joe McFarlane, adding that Petro’s government recently confirmed new bid rounds for blocks would take place. “If you include the proposed tax increases right now with the existing royalty tax structure, Colombia remains in the top 10pc of the world” Abbott, Arr
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
