The Colombian energy sector can look forward to increased investment in 2017 and 2018. With a crisis in the electricity sector narrowly avoided, the government is reassessing its strategy to improve energy security. In the hydrocarbons segment, 2017 will see major investments in offshore exploration, which represents the best possibility for the country to maintain energy self-sufficiency,...
The Americas Energy
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Chapter | Energy & Utilities from The Report: Colombia 2017
The advent of plentiful natural gas has led to an evolution of the energy sector. Among President Pedro Pablo Kuczynski’s key pledges in the 2016 election campaign was the “massification of natural gas” to serve residents and industrial users across southern Peru. Another feature of Peru’s policy focus is to diversify gas exports, including the potential renegotiation of the country’s...
The mining sector can be described as one of the main engines of the Peruvian economy as it accounts for 12% of total GDP. It creates direct employment for 174,000 workers and indirectly accounts for another 1.5m jobs. In 2016 mining exports totalled $23.8bn – consisting of 65% of the country’s total merchandise exports. The medium-term outlook is certainly positive, with a range of new mines...
Over the last two decades Peru has been one of the fastest-growing economies in the region. Remarkably resilient to global headwinds, positive GDP growth has continued despite the end of the commodities boom. Yet the growth rate has slowed and the initial impetus of a first wave of structural reforms has faded. The question now is whether the current administration can address problems, implement further reforms and re-accelerate the economy.
Following a landmark peace agreement and a late-2016 tax reform package, 2017 looks to be a year of significant promise for Colombia. The country has been in recovery since the 2014 collapse in oil prices, which predominantly affected exports, government revenues and the exchange rate. However, with the external sector acting as a shock absorber, the authorities helped ensure that domestic demand was able to pick up some of the slack.
Mexico’s energy sector has been undergoing a profound paradigm shift since a reform programme, launched in 2013, put an end to state monopolies in most subsectors and began the process of opening the production and distribution of oil, gas, petrochemicals and electricity to private investment. In parallel, the entire legal, regulatory and institutional framework is being transformed to oversee...