Ecopetrol’s bonds have staged an impressive run since March, but Wall Street analysts are now warning that the May 31 presidential election has become the single most important variable for the company’s long-term credit profile — potentially more consequential than oil prices, production volumes, or even the ongoing governance crisis at its headquarters.
Gran Tierra Energy reported Q1 2026 total working interest production of 45,497 boed, 2% below both Q4 2025 and Q1 2025, with Colombia contributing 21,319 boed. The sequential decline reflects waterflood optimization timing in Colombia and the disposal of the Canadian Simonette Montney assets for US$49M, partially offset by stronger-than-expected results from the Conejo wells in Ecuador’s Charapa Block.
The Ministry of Mines and Energy has published a draft decree that would overhaul the rules governing Colombia’s natural gas market, targeting what the government characterizes as speculative behavior in secondary trading that is driving up costs for households, industry, and commerce.
The Unión de Trabajadores de la Industria Petrolera y Energética de Colombia (UTIPEC) has filed a formal complaint with the U.S. Securities and Exchange Commission (SEC) and the New York Stock Exchange (NYSE), alleging that Ecopetrol is undergoing a process of decapitalization driven by governance failures and politically motivated energy policy decisions.
Colombia’s poultry industry is warning that a potential gas supply shortage would hit production costs and operational viability, adding an agricultural dimension to a crisis already well understood in power generation circles.
I had dinner this week with some industry members and, unsurprisingly, the election and what comes next – the topic of last week’s long article – was top of mind.
The Colombian oil equipment and services industry association Campetrol released its 2025 Oil Sector Balance, covering second-half 2025 performance, full-year close data, and early 2026 figures, with a supplementary analysis of Venezuela’s hydrocarbons industry drawn from a sectoral outreach mission Campetrol conducted in the neighboring country.
Óscar Bravo, chief executive of Terpel — Colombia’s dominant fuel distributor with roughly 43% of the service station market – used an interview with Valora Analitik to lay out a decade-long growth plan that is as much about surviving the energy transition as it is about selling more gasoline.
Carlos Mazeneth, chief executive of Efigas, the natural gas distributor serving Colombia’s Eje Cafetero region, has issued a blunt warning about the commercial toll of the country’s growing dependence on imported gas: higher molecule costs are driving industrial customers away, directly eroding the company’s bottom line.
Colombia’s Finance Minister Germán Ávila has confirmed the convening of an Extraordinary Shareholders’ Assembly to make what he described as “some adjustments” to Ecopetrol’s board of directors. If the changes go ahead, the board will have been reorganized nine times in under four years — an unprecedented pace for a company of Ecopetrol’s strategic weight.
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