Crude Fall Prompts Proposals to Shield Colombian Drillers
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Colombia is preparing measures to help oil producers including Ecopetrol SA and Pacific Rubiales Energy Corp. cope with the crash in global prices as the Andean nation looks to protect its biggest source of revenue.
Options include easing investment costs and reducing the amount of oil that goes to the government as a royalty, said Nicolas Mejia, vice president for promotion at Colombia’s hydrocarbons agency. Proposals put forward by several consultancies will be discussed at a Jan. 27 meeting with government ministers.