News and AnalysIs for

Two U.S. based companies, Amec Foster Wheeler USA Corporation and Process Consultants, Inc., reopened a US$2.4B arbitration claim against the Republic of Colombia before the International Centre for Settlement of Investment Disputes (ICSID), the World Bank’s international arbitration court. The dispute stems from the controversial modernization project of the Cartagena Refinery (Reficar).

Ecopetrol (NYSE: EC) is facing serious financial challenges due to the recent plunge in global oil prices.

The government appointed Karen Schutt Esmeral as its new Deputy Minister of Energy, marking a significant leadership change within the Ministry of Mines and Energy (MinEnergia).

Arrow Exploration Corp. (TSXV: AXL) released an operational update focused on its activities in the Tapir Block, located in the Llanos Basin.

Ecopetrol (NYSE: EC) announced the launch of three new natural gas commercialization processes for 2024, reinforcing its commitment to long-term energy supply security in Colombia.

MinEnergia Edwin Palma says the Colombian government will write long-term gas import contracts because “Those increases in gas prices across the country must be reversed.” He is either misguided or misleading Colombians. We hope it is the former. Gas prices appear to be on the upswing and Colombians will pay a premium to eliminate the risk of gas prices going up.

The President of Colombia’s National Hydrocarbons Agency (ANH), Orlando Velandia, offered a surprisingly optimistic forecast for the country’s oil and gas reserves in 2024.

At the 2025 Naturgas Congress, Colombia’s Minister of Mines and Energy (MinEnergia), Edwin Palma Egea, announced a significant policy shift: the government is working to establish long-term natural gas import contracts aimed at reducing public service tariffs for Colombian consumers.

In a stark and urgent appeal, Eduardo Verano, Governor of Atlántico, warned that Colombia is teetering on the edge of an “energy pandemic” due to the growing threat of a natural gas shortage.

During the 2025 Naturgas Congress, Ecopetrol (NYSE: EC) President Ricardo Roa Barragán announced the detailed roadmap for the company’s Pacific Coast regasification project, which will allow Colombia to import natural gas through a new terminal located in Buga, Valle del Cauca.