Four Colombia fracking projects could bring $5 billion in annual investment

BOGOTA - Four fracking pilot projects in Colombia could bring in $5 billion annually in investment once they are in the production phase, industry leaders said on Tuesday, as the country awaits regulation that will allow the projects to begin.

The top administrative court, the Council of State, is hearing a case on whether hydraulic fracturing, which breaks up rock formations with pressurized liquid, should be allowed but it has said pilot projects recommended by an expert commission can go ahead. Lloreda said he hoped work on the pilots, or at least the infrastructure required for them, could begin next year.

Good for them, they need the money.

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Source: CNBC - 🏆 12. / 72 Read more »