The distribution of wealth generated in Colombia and ensuring it reaches all regions relies heavily on the royalties’ system. This mechanism, managed by the General System of Royalties (SGR), is designed to use revenues from the efficient development of non-renewable natural resources.
After two years under President Gustavo Petro’s administration, the balance in the energy and extractive sector presents a mixed picture.
Recent warnings about a potential shortage of natural gas in 2025 and 2026, which could lead to price increases, stand in stark contrast to the current inflation trends for this energy source.
Felipe Bayón, former president of Ecopetrol (NYSE: EC), raised serious concerns about the financial health of Colombia’s state-owned oil company.
Recently, Ecopetrol’s (NYSE: EC) President, Ricardo Roa Barragán, announced the company’s potential plan to import gas produced through fracking in the Permian Basin (Texas, USA) as a strategy to mitigate Colombia’s projected gas deficit in 2025.
On August 26, Bogotá will host the first-ever Regional Methane Summit for Latin America and the Caribbean, a landmark event aimed at addressing the significant impact of methane—a potent greenhouse gas—on climate change.
Just as Colombia’s National Environmental Licensing Authority (ANLA) was about to issue a decision on granting an environmental license for one of Ecopetrol’s most significant offshore hydrocarbon exploration projects, a new obstacle emerged from the Ministry of Environment (MinAmbiente).
Ricardo Roa Barragán, President of Ecopetrol (NYSE: EC), provided new insights into the collapsed negotiations with Occidental Petroleum (NYSE: OXY) that aimed to acquire a significant stake in CrownRock, a company engaged in fracking in the US.
Colombia is set to see a significant increase in its natural gas transport capacity following recent decisions by the Energy and Gas Regulatory Commission (CREG).
Las week marked two years since Gustavo Petro Urrego took office as Colombia’s first left-wing president, bringing with him a wave of proposed reforms aimed at reshaping the nation’s economic landscape.
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