Zero CNH Discretionality: The counter-arguments
MARKET COMMENT 075 (HOUSTON) — A week before the CNH auction scheduled for July 15 for awarding blocks for 14 shallow-water fields, Energy Secretary Pedro Joaquín accompanied by other senior officials briefed the press on what to expect during the day. Emphasis was given to the transparency of the process, evidenced by a policy of “cero discretionality” and by the participation of multiple government agencies, as if to suggest that a system of checks and balances was in place. This report sets forward counter-arguments that support giving the Hydrocarbon Commission (CNH) discretionality in determining the best offer in each case. A summary of the arguments was published in a column in MILENIO (La Energía de Baker), July 21-22, 2015.
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