News and AnalysIs for

With the incoming government facing a fiscal adjustment estimated at five percentage points of GDP by 2030, a group of former finance ministers and economic research directors assembled by Valora Analitik has begun sketching the architecture of what Colombia’s next tax reform should look like and the consensus points toward structural change rather than incremental rate increases.

No, we are not discussing biofuels. Rather, given that this is our last “What We Think” for the Petro government, we will give our evaluation, especially of the outgoing (already gone?) MinEnergia.

Ecopetrol announced on July 22^nd that it has secured nine Contingency Supply Contracts making 81 GBTUD of natural gas available to the market to backstop supply during the SPEC LNG regasification terminal’s scheduled maintenance from July 30^th to August 3^rd.

If true, Ecopetrol’s leadership transition accelerated sharply on July 23^rd, with unconfirmed reports of two related developments simultaneously: Ricardo Roa’s official departure date confirmed as July 30^th, and a significant reshaping of the board that clears the path for the incoming de la Espriella government to restructure the company’s governance from day one.

So far, we see nothing on the Ecopetrol investor site confirming either of these stories.

The collective agreement signed between the USO and Ecopetrol has been fully disclosed and its most strategically significant feature is not any individual benefit but the duration of the contract itself.

Colombo-Venezuelan petrochemical company Monómeros Colombo Venezolanos S.A. has been rescued from insolvency after the Superintendency of Companies confirmed a reorganization agreement in hearings held on July 3 and 10, ending a sixteen-month legal process that began when Supersociedades initiated ex officio reorganization proceedings in March 2025 following a financial deterioration that threatened the company’s viability as a going concern.