Thursday, June 25th, 2026
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.
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.
While still not yet official, Abelardo de la Espriella won Colombia’s June 21 presidential runoff with 12,949,162 votes against Iván Cepeda’s 12,701,546, a margin of 250,830 votes and 0.95 percentage points, the narrowest gap in percentage terms since the second-round system was introduced in 1994. Cepeda has now conceded defeat.
Two of Colombia’s most prominent oil and gas industry associations moved quickly after the June 21 second-round result to signal institutional alignment with president-elect Abelardo de la Espriella.
Ecopetrol and Germany’s development cooperation agency GIZ signed an agreement on June 19 to conduct feasibility and engineering studies for a Power-to-Liquid pilot plant at the Cartagena refinery, aimed at producing e-SAF — electronic Sustainable Aviation Fuel — from green hydrogen.
Calgary-based Arrow Exploration Corp. reported average production of 4,715 boed for the first quarter of 2026, a 15% increase over the same period in 2025 and 19% above Q4 2025, driven primarily by additional volumes from the Mateguafa Attic field in the Tapir block.
S&P Global Ratings affirmed Ecopetrol’s global issuer credit rating at BB- with a stable outlook on June 16, while also confirming the company’s stand-alone credit profile (SACP) at bb+.
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