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- W227372233 abstract "Changes in petroleum policy are clouding the outlook for foreign oil investments in Colombia. The country this year returns to the ranks of crude exporting nations with start-up of production from giant Cano Limon oil field, whose discovery is credited in part to a petroleum policy framework viewed earlier by industry officials as a model for other countries. But a troubling series of tax and regulatory changes proposed during a heated election season bedevils foreign operators trying to gauge the health of their investments in what has been the hottest Latin American play of the 1980s. Added to exploration disappointments in the Llanos basin, which spawned Cano Limon, continued guerrila activity, and the winter price plunge, the policy changes worry oil companies. Several officials speculate that some companies, especially small independents, will pull out of Colombia within 1 year. Operators want clarification of government decrees governing field production limits, pipeline ownership, oil export levels, and oil prices. Operators also call for liberalization of the widely admired association contract model, now seen as too stringent in view of the sharp oil price drop since November. Meanwhile, an Arthur D. Little Inc. study commissioned by Occidental de Colombia Inc. and Cia. Shellmore » de Colombia Inc. concludes that Colombia would be best served economically by pushing for increased oil production and crude exports now instead of lower production and export levels championed in some Colombian political circles.« less" @default.
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- W227372233 date "1986-03-31" @default.
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- W227372233 title "Policy shifts cloud Colombia's future" @default.
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