The Ambassador in Colombia (Beaulac) to the Secretary of State
Bogotá, October 18, 1950—4 p. m.
281. At request of President Gomez who stated he was dissatisfied with existing petroleum laws, petroleum companies were invited to make suggestions to be incorporated in new petroleum law which would attract foreign capital. After industry meeting Monday to formulate views, petroleum group met yesterday and today in continuing series of meetings with Minister Mines [and] Petroleum1 to present industry views.2
- Manuel Carvajal Sinisterra.↩
- In telegram 353 from Bogota, November 15, 1950, Ambassador Beaulac reported in part the Government had signed a new petroleum law which, among other provisions, removed the limit on the number of concessions a single company could hold and provided incentives for early drilling. (821.2553/11–1550)↩