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.