Colombia works through plunging oil prices

Global Business

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While the price of oil went up 10 percent on Thursday – its biggest rally in 6 years- the situation continues to be critical for Latin America.

An Oil and Gas summit in Colombia this week brought up a discussion on ways Colombia can remain competitive and optimistic in a crisis. CCTV America’s Michelle Begue filed this report from Bogota.

More details:

  • To encourage investment in the oil sector, Colombia has allowed private firms to own 100 percent of the exploration and production activities along with providing tax breaks to energy companies.
Colombia works through plunging oil prices

Colombia works through plunging oil prices

While the price of oil went up 10 percent on Thursday - its biggest rally in 6 years- the situation continues to be critical for Latin America. An Oil and Gas summit in Colombia this week brought up a discussion on ways Colombia can remain competitive and optimistic in a crisis. CCTV America's Michelle Begue filed this report from Bogota.