News and AnalysIs for

Road and access blockades at Ecopetrol’s subsurface operations in the Meta municipalities of Acacías, Guamal, and Castilla La Nueva reached 52 days as of June 17, with the company issuing a forceful statement from Villavicencio condemning the disruption and calling for a return to dialogue.

Dutch marine technology firm ECOnnect Energy has signed an agreement with Sociedad Portuaria Puerto Bahía S.A. — a majority-owned subsidiary of Canada’s Frontera Energy Corp. — to deliver its proprietary IQuay F-Class jettyless transfer system for a fast-tracked LNG import terminal in Cartagena Bay.

Gas network operator Promigas closed a US$920M subordinated hybrid bond issuance — the largest demand ever recorded for a Colombian company — drawing US$2.7B in orders from roughly 150 investors across the United States, Europe, Latin America, and Asia, an oversubscription rate of nearly 2.8 times.

Spain’s Repsol has signed a memorandum of understanding with Venezuela’s Ministry of Hydrocarbons and state oil company PDVSA to study the development of a new oil area called Horcón, located southeast of Lake Maracaibo — a zone adjacent to fields where Repsol already holds operations.

Yesterday’s presidential voting had a declared winner but the results are not definitive and the loser is contesting the result.

Ecopetrol has completed its first direct export of petroleum coke (petcoke) to Japan, shipping 50,000 tons to a Japanese steelmaker for use in vehicle production, a transaction that represents 5 percent of the Refinería de Cartagena’s total annual petcoke exports and marks a strategic shift in how the state oil company commercializes one of its industrial byproducts.