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We cannot really blame Orlando Velandia and the ANH for spin-doctoring the recent oil and gas reserves report. His ultimate boss, Colombian President Gustavo Petro, doesn’t need any more bad press. But second derivatives, while interesting, do not tell the story.

As speculation grows over the possible resignation of Ecopetrol’s (NYSE: EC) current CEO, Ricardo Roa, a historical pattern emerges as since 1998, the average tenure of an Ecopetrol president has been 51 months.

Colombia has been ranked as the fifth most complex country in the world to do business, according to the 2025 Global Business Complexity Index released by TMF Group. The list is led by Greece, followed by France, Mexico, Turkey, and then Colombia.

Oil and gas investment in Colombia is set to decline by 10% in 2025 due to lower Brent crude prices and an increased withholding tax on natural gas companies, according to the Colombian Petroleum and Gas Association (ACP).

Ecopetrol (NYSE: EC) stands as a cornerstone of the nation’s economy, contributing significantly to its Gross Domestic Product (GDP) and government revenues.

Ecopetrol (NYSE: EC) is pushing ahead with offshore gas exploration in the Caribbean, even after global energy giant Shell (LON: RDSB) withdrew from three key maritime blocks.