News and AnalysIs for

Colombia stands out at the ongoing United Nations Climate Summit (COP28) in Dubai, where the nation has been actively advocating for climate-conscious policies. At the forefront of these discussions is Susana Muhamad, Colombia’s Environment Minister, who leads the national delegation.

The Ministry of Finance (MinHacienda), in collaboration with the Ministry of Mines and Energy (MinEnergia), has a draft decree aimed at hiking the diesel price but only for big companies.

We assume investors view royalties as a cost-of-doing business without regard to value judgements like positive or negative or, as the title suggests, kind or unkind. In fact, our heading for this quarter’s review of company financial results is a play on words. For a number of fields, the ANH changed the way royalties are collected (in kind versus in cash) and this changes results presentations for many companies.

At the fourth technical meeting with the government, the Intra-association Transport Chamber – UNIDOS (representing cargo, passenger, and dump truck transporters) presented its proposal for determining the price of diesel in Colombia.

Amidst the proceedings of COP28 held in Dubai, United Arab Emirates, Ecopetrol (NYSE: EC) announced its participation in the global sectoral agreement aimed at accelerating the decarbonization of oil and gas (OGDC).

Executives from major oil companies are flocking to Venezuela to capitalize on the easing of sanctions imposed by the US, even though there’s a looming risk that access to the world’s largest oil reserves could shut down as quickly as it has opened.

Ecopetrol (NYSE: EC) will conduct planned maintenance at the Cupiagua Central Processing Facility (CPF) in Aguazul, Casanare, from January 4 to January 15, 2024.

Colombia, a country renowned for its robust oil industry, has taken an unexpected leap by joining the Non-Proliferation Treaty for Fossil Fuels.  This initiative originally was proposed by small island states in 2019.

The Colombian Congress is poised to kill a bill that would have banned fracking in the country.

The latter part of 2021 marked the inception of Grupo Ecopetrol’s vision for a circular economy, integrating products from its petrochemical and industrial portfolio to contribute to global sustainability efforts.