In a move to ensure the efficient management of Colombia’s oil and gas reserves and contingent resources, the Interinstitutional Hydrocarbons Committee will hold its inaugural meeting on August 6, 2024.
For all the doom and gloom from commentators (like us!) and falling key driver statistics, oil production is up in 2024 versus 2023. Who or what is responsible?
Frontera Energy (TSX: FEC) announced its financial and operating results for 2Q24.
NG Energy International Corp. (TSXV: GASX) provided a comprehensive update on its flagship Sinu-9 gas project in Colombia, highlighting significant progress in the Phase 1 infrastructure development.
Ecopetrol (NYSE: EC) decided not to pick up its option on CrownRock, a subsidiary of Occidental Petroleum Corp (NYSE: OXY).
The Colombian economy has been grappling with sluggish growth, as evidenced by the mere 0.6% expansion in 2023. The private sector, a vital engine for economic vitality, faces numerous challenges, including bureaucratic hurdles, delayed permits, and stalled licenses.
The ANH has stopped announcing production figures in the press for reasons we can only speculate. But we checked the website based on a reader question and results for June were already published – a “mere” five weeks after the end of the month. They contained both positive news and negative news.
Alexander López Maya, Director of the National Planning Department (DNP), called on all sectors of Colombian society—social, economic, and political—to allocate resources from the General Royalties System (SGR) towards implementing a new energy matrix model and environmental protection.
Fitch Ratings affirmed the long-term and short-term national ratings of Ecopetrol S.A. (Ecopetrol) at ‘AAA (col)’ with a Stable Outlook and ‘F1+(col)’, respectively.
The oil industry is pushing the boundaries of offshore exploration with plans to drill a record-breaking well in Colombia’s deep waters within the next few months.
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