It also indicates that investment projects “that could mean a potential decrease of up to 100 kbde of onshore oil and gas production by 2026 would be affected. It also warns that a decrease in production could mean a reduction in the value of royalties.
“These negative business impacts resulted in lower shareholder value, challenges to ensure financial sustainability, and lower transfers to the nation over these years, impacting regional and national programs and budgets.”
Given this, Ecopetrol proposes to the national government a bonus on income tax equal to 7%, when the annual average price of a barrel of crude oil is equal to or greater than $80; and 3%, when the price of oil is greater than $65 and less than $80.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
