Thursday, February 6th, 2025
The Colombian government’s push to sell Ecopetrol’s (NYSE: EC) stake in the Permian Basin (Texas, USA), where it operates in partnership with oil giant Occidental Petroleum (NYSE: OXY), has triggered warnings from multiple stakeholders, including Citi, labor unions, and industry associations.
Colombian President Gustavo Petro has once again expressed his strong opposition to fracking, this time urging the sale of Ecopetrol’s (NYSE: EC) operations in the Permian Basin, Texas.
During Colombia’s energy uncertainty, the ultra-deepwater Komodo-1 project emerged as a potential solution to expand the country’s oil and gas reserves. However, Ecopetrol (NYSE: EC) and Anadarko are increasingly pessimistic about the feasibility of exploration and production any time soon.
In the ongoing debate over Colombia’s energy industry and diesel subsidies, a significant concern has emerged regarding the potential misuse of government aid for this fuel.
The Colombian Chamber of Goods and Services (Campetrol) reported rig information for December 2024.
A recent study by Grupo Bancolombia projects a 4.6% decrease in Ecopetrol’s (NYSE: EC) proven reserves by the end of 2024, citing limited efficiency gains.
The National Hydrocarbons Agency (ANH) issued Resolution No. R4D1C4D0_1 of R4D1C4D0_2, establishing the international average price of Brent crude for 2024 and the table of monthly average price percentiles.
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