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
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
