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Bogota is not yet in a position to make a deci- the situation in light of the local and global eco-
sion, he said. nomic situation and because of the significant
“The main message that is very clear from revenues that hydrocarbons generate.
the government is that it’s not a decision that’s In contrast to Petro, Colombia’s former
written in stone,” he commented. “The decision president, Ivan Duque, sought to encourage
on whether or not to sign new contracts or open investment in the country’s fossil fuels. During
a bidding round hasn’t been made.” Duque’s time in office, the ANH signed 69 new
He went on to say that the ANH was pre- oil and gas exploration and development con-
pared to launch a new round of auctions for tracts, and its then-president Armando Zam-
exploration contracts immediately, in the event ora reported that around 500 new blocks had
that the government chose to move forward. been identified for inclusion in future licensing
“The agency is ready to open the round when rounds. ™
the decision is made by the government,” he told
Reuters.
Several international oil companies (IOCs)
have asked the Colombian government about
the possibility of participating in new licensing
rounds, he said. He did not identify any of the
potential bidders but said that the IOCs had
shown interest in multiple hydrocarbon basins.
Colombian President Gustavo Petro, who
took office in August of this year, has made his
distaste for fossil fuels clear. During his cam-
paign for the presidency, he said he would, if
elected, halt new oil, gas and coal exploration
projects.
In October, however, his administration
announced that it was taking another look at ANH head Andres Bitar (Photo: Twitter/@PetroleoyGasCo)

VENEZUEL A
Washington could authorise Chevron

to resume operations in Venezuela soon

WASHINGTON may authorise the US major Assuming that Venezuela’s government
Chevron to resume upstream production oper- restarts negotiations with the political opposi-
ations in Venezuela in the very near future, three tion as expected, US authorities may give the
sources familiar with the matter told Reuters on company a green light by Saturday, November
November 23. 26, the sources said.

The US major has not been able to produce oil in Venezuela because of sanctions (Image: Chevron)

P10 www. NEWSBASE .com Week 47 23•November•2022