News and AnalysIs for

Having spent most, perhaps all, of my working life involved in strategic planning in one capacity or other, I always start to think about next year as soon as the calendar turns over from the second quarter into the third. Not perhaps a fully formed vision of the coming years but some scenarios to define the space of possibilities.

Colombia’s oil reserves are running low. According to the latest figures from the Ministry of Mines and Energy, the country has only 7.2 years of proven oil reserves left, a notable decline from the 8.4 years reported when President Gustavo Petro took office in 2022.

In a notable step toward sustainability and innovation, Ecopetrol (NYSE: EC) announced a circular economy initiative that captures carbon dioxide (CO₂) emissions from its Barrancabermeja refinery and transforms them into everyday products such as carbonated beverage gas, dry ice, and refrigeration systems used in food transport.

During a recent visit to Venezuela, Colombia’s Minister of Mines and Energy (MinEnergia), Edwin Palma, expressed the country’s keen interest in acquiring Monómeros, the petrochemical company based in Barranquilla but owned by Venezuela’s Pequiven.

Colombian authorities have seized assets belonging to French oil company Perenco Colombia Limited amid ongoing investigations into the firm’s alleged ties to paramilitary groups.

Parex Resources Inc. (TSX: PXT) released its preliminary production update for the second quarter of 2025, ahead of its full financial and operational results to be published on July 30, 2025.