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The oil sector dominated the headlines for a variety of reasons this week…and most of it was good news.

It was an eclectic week, even by Colombian standards.

CPI may yet go higher, obviously not to those seen on the streets of Caracas or Buenos Aires, but only Chile (13.3%) amongst the mainstream Latam economies has higher inflation.

In November, 155 drilling & workover rigs were registered, exceeding the pre-pandemic activity of 136 rigs in January 2020.

Colombia may have to choose which is most important between carbon neutrality and investment in social programs.

Looking back on the week several data points were published; none of which were particularly positive.

The bill imposes new income taxes on Colombians earning more than $2,000 per month, plus petroleum & mining exports.

Sectorially, financials (94.1%) are the top pick followed by Energy (82.4%), while oil has dropped away to 35.3%.

It's hard not to be happy when your President announces from Brussels that 2021 growth will be at least 10.2% in 2021

These new awards bring the total to 69 petroleum drilling concessions issued under the Duque Administration.