Colombia Cancels Two Oil Exploration Auctions, To Relaunch In 2019

Colombia has canceled two auctions of rights to explore for oil in dozens of areas of the Andean nation and plans to relaunch bidding early next year, the government said Dec. 18.

The Sinu-San Jacinto round of bidding on 15 blocks in northern Colombia was scrapped after interested companies withdrew, and a round known as the Permanent Competitive Procedure was canceled because of a judicial ruling, the National Hydrocarbons Agency said in a statement on its website.

It plans to relaunch bidding in February.