News and AnalysIs for

The Colombian Chamber of Goods and Services (Campetrol) reported rig information for February 2024.

Large oil and gas extraction companies, including ExxonMobil, Shell, Chevron, BP, TotalEnergies, and Eni, continue exercising caution in exploration spending in 2024, with drilling activity poised for a busy year offshore, as revealed by the latest research from Rystad Energy.

Ecopetrol (NYSE: EC) announced that Refinería de Cartagena S.A.S. (Reficar) will receive convertible preferred shares of McDermott International Ltd., the parent company of CB&I N.V.

Following the revelation of a report by Control Risks outlining the risks faced by Ecopetrol (NYSE: EC), some minority shareholders have sent a letter to the company’s president, Ricardo Roa, urging him to heed the British firm’s call.

We won’t see the official reserves report for a month or so but we have the reports of the major Colombia-focused players. That should give an indicator of how things went last year. Do not expect great news especially when the NOC – which contributes over 60% of reserves – has a down report.

The National Administrative Department of Statistics (DANE) reported the value of Colombian exports during January 2024.

A confidential report from a British firm shed light on the potential risks facing Colombia’s state-owned oil company, Ecopetrol (NYSE: EC), amidst investigations into its president, Ricardo Roa.

The Territorial Renewal Agency (ART) made public the Project Bank eligible for funding through the Works for Taxes mechanism, offering options such as the Trust Option and Agreement.

In a letter addressed to President Gustavo Petro, the Intergremial Chamber of Transportation (Unidos) expressed its stance regarding the rise in prices.

In its latest analysis and forecasts of the oil sector, with data up to March 2024, the International Energy Agency (IEA) anticipates that Colombia’s oil production will stay relatively stable in 2024 compared to 2023 figures.