Ecopetrol’s Net Income decline in 2Q24 attracted much negative commentary. While we worry about the NOC’s medium and long term performance, this was not a great quarter for anyone from a Net Income perspective while operating results were as expected.
Ecopetrol (NYSE: EC) announced significant operational disruptions caused by a series of recent events, including the ongoing truckers’ strike, attacks on critical oil pipelines, and the takeover of a key gas plant.
The Ministry of Environment (MinAmbiente) expressed its support for an initiative led by social organizations and communities to prohibit fracking and unconventional oil and gas extraction in the country.
Ecopetrol (NYSE: EC) activated a contingency plan to ensure the availability of natural gas in northeastern Colombia, following the occupation of the Gibraltar gas plant by members of the local indigenous community.
The Administrative Court of Cundinamarca accepted a lawsuit filed against several ministries and state entities, in response to growing concerns about the risk of gas and oil shortages in Colombia.
The Ministries of Mines and Energy and Finance issued resolutions to increase the price of diesel fuel, causing widespread discontent among transportation sectors.
The Latin American Energy Organization (OLADE), the Development Bank of Latin America and the Caribbean (CAF), the Global Methane Hub, and Colombia’s Ministry of Mines and Energy (MinEnergia) recently hosted the First Regional Methane Summit.
The Ministry of Mines and Energy (MinEnergia) strongly condemned the recent attacks on national energy infrastructure in the department of Arauca.
The National Planning Department (DNP) of Colombia released an alarming report concerning the fate of royalty funds distributed over the last seven years.
The ANH has updated its website and online databases with field-level data for gas production by type of consumption for July. Measured production rose sequentially. That is the good news. The bad news is that it continues to fall year-on-year and key components like gas delivered to pipelines fell sequentially and annually.
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