Tax Hikes Threaten To Cripple Colombia’s Oil Industry ...Middle East

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Tax Hikes Threaten To Cripple Colombia’s Oil Industry
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There is considerable speculation that the end is drawing close for Colombia’s economically vital hydrocarbon sector. The Andean country’s petroleum industry is facing significant headwinds, notably a deteriorating social license and a resurgent civil conflict, mostly in remote oil-rich regions where coca is cultivated. Colombia’s President Gustavo Petro, who recently reached the milestone of 100 days in office, has previously announced plans to end contracting for hydrocarbon exploration and ban hydraulic fracturing. He also…

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