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Series of changes in Colombia exacerbate local challenges

Series of changes in Colombia exacerbate local challenges

Report summary

Colombia passed two decrees in mid October aimed at the oil and gas sector. One aims to expedite environmental licensing, while the other introduces the country's first local content requirement. The sector has been losing momentum, and the decrees question the government's commitment to encouraging upstream investment. In addition, a tax reform is set to be approved before the end of the year, which could further dampen the investment climate.

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