In a recent address to the Colombian Congress, Finance Minister (MinHacienda) Ricardo Bonilla shed light on the potential for new contracts in oil and gas exploration in the country.
In a recent report, the Colombian natural gas sector, in collaboration with research institution Fedesarrollo, examined the potential costs of transitioning away from gas natural amidst the country’s energy shift.
The National Federation of Biofuels warned that the proposal to reduce the biodiesel blend in diesel could have adverse effects on the country’s environmental goals and various key aspects of the economy and quality of life.
In recent months, the significant rise in fuel prices in Colombia has stirred a range of opinions and concerns.
In the early hours of Saturday, September 2nd, a powerful storm accompanied by strong winds wreaked havoc on Ecopetrol’s (NYSE: EC) refinery located in the municipality of Barrancabermeja, Santander Department.
President Gustavo Petro has been vocal about the urgent need to accelerate the country’s energy transition away from hydrocarbons.
Amidst growing pressure from freight transport unions to review diesel prices, the Deputy Minister of Transport, Carlos Eduardo Enríquez, has announced that the Ministry of Transport (MinTransporte) is processing a request to reduce the amount of biodiesel in the blend to maintain current prices.
The Ministry of Mines and Energy (MinEnergia) issued a statement regarding the natural gas crisis affecting the northern region of the country. Canacol Energy also made a statement on this issue.
Colombia has taken a significant step toward its commitment to the Paris Agreement and the development of unconventional renewable energies.
Campetrol sparked a discussion about the potential consequences for both the industry and the Colombian economy if the currently favorable oil prices begin to decline and remain low for months.
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