The Constitutional Court ruled against the government’s request to reconsider its decision to declare royalties tax deductible in the mining and energy sector in Colombia.
The easing of the U.S. oil embargo on Venezuela opens doors for the beleaguered country’s oil industry to revive old channels for crude sales and rekindle partnerships with foreign companies. However, experts caution that this process will take time.
In a significant stride towards environmental responsibility, Ecopetrol announced a notable achievement in reducing emissions.
In response to the ongoing wildfires that have ravaged parts of Colombia for four consecutive days, Minister of Mines and Energy (MinMinas) Andrés Camacho, through a statement on X, authorized Terpel to provide diesel, to firetrucks stationed atop hills and to motor pumps strategically positioned across fire-affected areas.
In a significant development, the conversion of combustion vehicles to natural gas vehicles (NGV) increased in 2023.
Ecopetrol (NYSE: EC) is undergoing significant shifts in its top management, marking the departure of three vice presidents.
Trafigura announced its 2023 sustainability report, highlighted the advances at Impala Terminals in Colombia.
In October 2022, the Colombian government initiated a phased increase in gasoline prices, citing the need to address the deficit that had accumulated in the Fuel Price Stabilization Fund (FEPC), but this tendency seems to end.
Former Ecopetrol CEO Juan Carlos Echeverry has written what might be considered a best seller in Colombian non-fiction terms, creating a minor sensation in social networks like X. Saving Ecopetrol: Leadership in times of crisis is part management self-help, part corporate history, part diatribe against Petro, part manifesto for a post-Petro energy policy.
The International Energy Agency (IEA) raised the global demand for oil for the third consecutive month, projecting a global consumption increase of 1.24 million barrels per day (bpd) by 2024. As the world anticipates higher demand, some Latin American countries are strategically positioning themselves in the race for oil production.
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