News and AnalysIs for

Colombia is preparing a new import point for gas and other energy products in Ciénaga and Santa Marta, Magdalena.

Three companies are behind new investments to expand biofuels production capacity in Colombia: BioD, Bioenergy, and Oleoflores, together committing roughly US$110 million to meet growing biofuels demand in coming years.

Brent crude climbed above US$100 a barrel last week — closing at US$108.61 on last Tuesday, its highest level since May. Brent closed Monday, September 21^st at US$100.39.

Vice President José Manuel Restrepo said Colombia’s bilateral agenda with the United States includes discussion of energy interconnection with Venezuela, specifically referencing the Antonio Ricaurte pipeline in northern Colombia as a potential route for importing gas from the country holding the world’s largest reserves.

At Ecopetrol’s September 15 Extraordinary Shareholders Assembly, former senator and minority shareholder Jorge Enrique Robledo challenged President Abelardo De la Espriella’s economic vision for the company, calling it characteristic of “neoliberalism” and warning against treating national and foreign capital as equivalent in company decisions.

Graford Santamaría Valbuena, currently Ecopetrol’s hydrocarbons financial director, was named the company’s new commercial and marketing vice president, taking over after Julio César Herrera Martínez’s mutually agreed departure from the role.