Colombia’s oil output at risk as investments plummet

摘要

Bogota—With a dramatic decline in oil patch investment putting Colombia’s oil self-sufficiency at risk, experts and executives last week called on the government to significantly reduce taxes and royalties the industry must pay. That was the main message at the first day of a two-day “emergency summit” in Bogota organized by the Colombian Petroleum Association and the government in response to a more-than-80% drop in exploration spending so far this year.