News and AnalysIs for

Canacol announces that the Court of King’s Bench of Alberta (the “Canadian Court”) has approved the Company’s sale and investment solicitation process (“SISP”) authorizing the Company, with the assistance and oversight of the Sale Advisor (as defined below) and KPMG Inc. in its capacity as court-appointed Monitor (the “Monitor”), to implement the SISP in accordance with the approved procedures.

Colombia’s biofuels sector confronts sharply divergent narratives between government policy and industry survival, as President Gustavo Petro defends forced investment reforms while the sugarcane sector warns of imminent operational collapse from excessive imports threatening hundreds of thousands of jobs.

Next Sunday, March 8^th, Colombians go to the polls for two separate but related purposes. Roughly half will vote in one of three primary elections for the right (excluding the leading candidate), the left (excluding the leading candidate) and the not-so-left. Perhaps the more important votes will be for Senate and Congress although these get less press coverage.

The ANH reports that commercialized natural gas production in December 2025 stood at 692.91 million cubic feet per day (mcfd). This monthly variation does not compromise the country’s energy security nor is it due to public policy decisions by the national government.

Financiera de Desarrollo Nacional (FDN) and BTG Pactual announced financial close for Ecopetrol’s Regasificadora del Pacífico project designed to import natural gas through Buenaventura.

Energy Minister Edwin Palma announced Santander’s largest historical natural gas expansion with CoP$51.675 billion investment across 15 projects delivering natural gas, liquefied petroleum gas networks, and eco-efficient cooking solutions to 19,246 households, particularly benefiting women who traditionally perform cooking tasks.

Córdoba Governor Erasmo Zuleta Bechara requested national government authorization to temporarily implement the Works for Taxes mechanism in flood-affected municipalities, announcing he has advanced negotiations with businesspeople willing to contribute through this initiative.

Natural gas market manager BMC published its January report and updated its online databases. Both demand and supply continue to decline.

SierraCol Energy reported full-year 2025 share before royalties (SBR) production averaged 42.0 mboed, down 6% year-over-year, primarily due to restricted pipeline availability in the Caño Limón area during second quarter 2025, partially offset by additional volumes from the Caracara field integrated during second half 2024.

Empresas Públicas de Medellín will enter the imported gas market through a new regasification facility in Copacabana, north of Medellín, marking Antioquia’s principal public company’s strategic entry into the regasification business.