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Canacol Energy Ltd. (TSX: CNE) released an update on its ongoing exploration drilling operations in Colombia, reporting both challenges and successes across several key wells targeting the Cienaga de Oro (CDO) sandstone reservoir.

The Colombian Ministry of Mines and Energy (MinEnergia) released a draft resolution for public comment that aims to update the rules for distributing production incentives for non-renewable natural resources and their transportation via maritime and river routes.

Ecopetrol (NYSE: EC) announced a major step forward in its energy transition strategy with the launch of a new geothermal energy project in the southern department of Nariño.

The Colombian government, in partnership with Transportadora de Gas Internacional (TGI) S.A. ESP, a subsidiary of Grupo Energía Bogotá (GEB), is advancing plans for a new regasification plant in La Guajira to ensure long-term energy security and diversify the country’s natural gas infrastructure.

Having spent most, perhaps all, of my working life involved in strategic planning in one capacity or other, I always start to think about next year as soon as the calendar turns over from the second quarter into the third. Not perhaps a fully formed vision of the coming years but some scenarios to define the space of possibilities.

Colombia’s oil reserves are running low. According to the latest figures from the Ministry of Mines and Energy, the country has only 7.2 years of proven oil reserves left, a notable decline from the 8.4 years reported when President Gustavo Petro took office in 2022.