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The National Hydrocarbons Agency (ANH) finally released Colombia’s total oil and gas reserves figures for year-end 2025 last week. Contributor Tomás de la Calle looked at Colombia’s oil reserves over the past nine years and even looked back thirty years to assess performance.

Ecopetrol’s ADR reached US$16.58 on June 17 — one of its highest levels of the year — having risen between US$6 and US$7 from its late-2025 range of US$9-10 as the market had been pricing in a de la Espriella victory well before the June 21 vote.

Arrow Exploration Corp. has announced results from the Icaco-2 (IC-2) exploration well on the Tapir Block in Colombia’s Llanos Basin, confirming a multi-zone discovery that the company says could prove material to its growth trajectory.

Abelardo de la Espriella’s June 21 runoff victory prompted JPMorgan to formalize its post-election Colombia thesis under the acronym T.I.G.R.E. — drawn from the president-elect’s campaign nickname “El Tigre” — covering Trade, Investment, Growth, Retrenchment, and Enforcement.

The prospective end of the US-Iran conflict and the expected reopening of the Strait of Hormuz have sent crude prices sharply lower, with Brent falling into the US$70s per barrel, levels not seen since before the outbreak of hostilities.

Colombia’s Ministry of Mines and Energy and the National Hydrocarbon Agency (ANH) presented the 2025 Resources and Reserves Report (IRR 2025) on June 23, certifying that the country’s proven oil reserves held essentially flat at 2,020 million barrels as of December 31, 2025, with the reserves-to-production ratio (R/P) improving to 7.4 years from 7.2 despite a 4% drop in annual production and a 14% decline in average Brent prices.