Tuesday, April 21st, 2026
Parex Resources, Colombia’s largest independent oil producer, expects its output in the country to grow strongly following its acquisition of Frontera Energy’s Colombian assets — a transaction that will make Parex two to three times larger than any other private operator in the market.
A Corficolombiana research report cited by Bloomberg Línea delivers the starkest assessment yet of Colombia’s gas supply trajectory: production is in freefall, imports are surging to compensate, and the country is becoming dangerously dependent on infrastructure never designed for the role it is now playing.
Ecopetrol acting president Juan Carlos Hurtado confirmed that the company is actively pursuing a US Office of Foreign Assets Control (OFAC) license to allow both Ecopetrol and Grupo ISA to import gas from Venezuela and reactivate bilateral energy projects — the clearest public signal yet that the NOC views Venezuela as a near-term operational priority rather than a long-term aspiration.
Ecopetrol has commissioned Colombia’s first wet-pelletized sulfur solidification plant at its Refinería de Cartagena (Reficar), opening a new downstream business line that could supply up to 70% of domestic demand and generate export volumes for European markets.
The Unión Sindical Obrera (USO) has presented Ecopetrol with a 150-page list of demands for a new three-year Collective Labor Agreement covering 2026–2028, setting up what could be a contentious negotiation at Colombia’s largest company.
In a televised council of ministers in February, Colombian President Gustavo Petro said Ecopetrol would be bankrupt if oil fell below US$60/bl. We don’t expect Petro to get his sums right but we thought we’d better check, just in case.
A comparative analysis published by El Espectador, drawing on five sector experts and research from Corficolombiana and Bancolombia, finds that Ecopetrol’s financial deterioration since 2022 has been materially more severe than that of comparable state oil companies in the region – and that the gap cannot be explained by oil price movements alone.
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