Colombia Oil and Gas Bid Round 2014 Results
The Colombian government received 26 offers from 19 national and international companies for exploration and exploitation of hydrocarbons in the Ronda Colombia 2014. Offers were received on 27 percent of the 95 blocks offered, below the Ministry of Mines and Energy target of 30 percent. Of the 16 unconventional blocks that were up for auction, just one received bids. Four offers were submitted for five offshore blocks. Projected investment in the awarded areas is estimated at USD 1.4 billion.
1.3 million Visitors to Colombia in the First Quarter of 2014
According to Minister of Commerce, Industry and Tourism Santiago Rojas, Colombia is becoming one of the top tourist destinations in the region. In the first quarter of 2014, the number of visitors to Colombia increased 6.4 percent year-on-year, representing the highest growth rate in South America. Within Colombia, the largest increases included to San Andrés Island (28 percent) and Cartagena (15.5 percent). Vice Minister of Tourism Sandra Howard Taylor said that the tourism industry in Colombia has grown on average 5.5 percent over the last three years.
Industrial Production Grew 3.6 Percent in May
According to the Colombian Industry Association, ANDI, manufacturing output grew 3.6 percent between January and May 2014. The following sectors showed the most improvement: printing activities (17 percent); textiles (almost 17 percent); and non-metallic minerals (13 percent). According to a poll conducted by ANDI, the main challenges for industry include exchange rate volatility, poor infrastructure, high logistics and input costs, and smuggling.