Wednesday, March 11th, 2026
Ecopetrol maintains a sufficiently robust oil and gas exploration portfolio to sustain activity for at least ten more years, extending to 2036, according to Elsa Jaimes, general manager of offshore projects and exploration, speaking at the second Colombian Geological Association Energy Exploration Convention.
GeoPark declined to raise its offer for Frontera Energy’s Colombian exploration and production assets, ending its bid after determining that matching a superior proposal from Parex Resources would not meet the company’s return thresholds.
Colombia’s natural gas shortage is driving an environmental reversal in the industrial sector, forcing companies to switch from cleaner fuels to more polluting alternatives. Between January 2025 and January 2026, Colombian industry substituted 38.6 Giga BTU per day of natural gas – equivalent to 16% of non-regulated industrial demand – with higher-emission fuels.
On Sunday, Colombians voted for the Senate and lower chamber (Representatives). As of writing, there are no official results but the much simpler Senate structure makes it easier to be reasonably accurate with predictions, based on the popular vote.
Frontera Energy reversed course March 5, 2026, determining that a binding offer from Parex Resources to acquire its Colombian upstream exploration and production assets constitutes a “Superior Proposal” compared to its previously announced arrangement with GeoPark Limited.
Colombia’s National Hydrocarbon Agency reported collecting CoP$29.6T in royalties between August 2022 and December 2025, demonstrating strong fiscal performance despite challenges in the sector.
Commercial tensions between Colombia and Ecuador escalated dramatically after Ecuadorian President Daniel Noboa announced initial tariffs on Colombian imports, triggering a 900% increase in crude oil transport fees that directly impacts Ecopetrol’s operations.
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