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Vaca Muerta is already producing 597,300 bd from the Neuquén basin, representing two-thirds of Argentina’s national output of 885,300 bd — and Luis Barallat, BCG’s director for Iberia and South America, believes that is still early innings.

Ecopetrol closed 2025 with a reserve replacement index of 1.21 – meaning it added 1.21 equivalent barrels to its proven reserves for every equivalent barrel it produced during the year. Against annual production of 248 million equivalent barrels, the company incorporated 300 million equivalent barrels of new proven reserves, a result the Asociación Colombiana de Ingenieros de Petróleos (Acipet) characterized as positive for the state oil company.

A year ago, Ecopetrol and Transportadora de Gas Internacional (TGI), the pipeline subsidiary of Grupo Energía Bogotá, were competing fiercely to build Colombia’s next LNG import terminal on the Caribbean coast, each claiming its project was the faster and more technically viable path to first gas in early 2027. Both promises have since deflated.

Colombia’s June 21 presidential runoff between Abelardo De la Espriella and Iván Cepeda will be, among other issues, a referendum on economic model: a pro-business, hydrocarbon-led growth agenda on one side versus a continuation of Gustavo Petro’s statist, redistributive project on the other. For the energy sector, the contrast could hardly be starker.

Colombia’s Superintendencia de Industria y Comercio (Superindustria) has announced it is analyzing a request related to a business integration between Ecopetrol and Parex Resources Colombia, citing the need to assess the impact on free market competition.

The Iran War brought a welcome boost to oil prices that will benefit E&Ps throughout this year and into next. But will it also spur an end to the Internal Combustion Engine which has dominated transportation (and other applications) for over a century?