News and AnalysIs for

President Abelardo De la Espriella’s government named Ernesto Francisco Forero Fernández de Castro as president of the Agencia Nacional de Hidrocarburos (ANH) via Decreto 1189, dated August 12, one of four appointments across the sector’s key technical entities.

BTG Pactual maintains a Neutral rating on Ecopetrol, with a 12-month price target of US$14.5 against the US$17.53 the stock traded at when the report published, implying a 17.3% potential decline, partially offset by an expected 5.1% dividend yield, for an estimated total return of -12.2%.

The six governors of Colombia’s oil-producing departments – Arauca, Boyacá, Casanare, Huila, Meta, and Santander – formally ratified Ricardo Rodríguez Yee as their nominee for the board’s eighth seat, filing a letter with the Finance Ministry on August 26.

Colombia’s oil production fell 2.46% year-on-year in July 2026, from 746,242 bd to 727,920 bd, marking the third consecutive monthly year-on-year decline since May — and every month of 2026 except April has posted a decline.

Vanti president Rodolfo Anaya said the Sandía gas discovery, located in the Caribbean near the Sirius field, could double Colombia’s gas reserves once official reports from operators Ecopetrol and Petrobras confirm its scale — a potentially pivotal find given the country’s ongoing loss of energy self-sufficiency.

Ecopetrol’s board of directors approved the departure of five senior executives on August 27^th, effective August 31th, with each position filled on an interim basis while the company defines permanent appointments.