President Donald Trump warned Cuba it will no longer receive money or oil from Venezuela, stating the island has been “living for years” thanks to Venezuelan money and crude in exchange for “security services” for “the two last dictators (Hugo Chavez and Nicolás Maduro).”
The Collegiate Body for Administration and Decision for Peace (OCAD Paz) approved COP$1.76 trillion for projects in PDET municipalities (Programs for Development with Territorial Focus), representing the highest investment in Colombian history for zones most affected by violence and armed conflict, now designated as territories of resilience, recovery, and reactivation.
Colombia began 2026 with new fuel price increases despite declining Brent crude and dollar values, highlighting how Petro government policy keeps domestic gasoline more expensive than in the United States.
Despite the dramatic U.S. military intervention in Venezuela and Nicolás Maduro’s capture, global oil markets have shown minimal reaction, revealing that oversupply concerns far outweigh geopolitical volatility from a country holding the world’s largest crude reserves.
Ecopetrol S.A. announced January 7, 2026, that nine additional labor organizations have initiated renegotiation of their respective chapters of the Collective Bargaining Agreement by filing complaints with Colombia’s Ministry of Labor within the legally established timeframe.
President Gustavo Petro’s surprise 23% minimum wage increase for 2026 forced Colombian financial analysts to hastily revise their macroeconomic projections on New Year’s Eve, with expectations shifting dramatically for inflation, GDP, dollar exchange rates, and unemployment.
We should just write 500 words on why accurate forecasting this year will be impossible, add 200 words on the benefits of scenario-based planning and try to otherwise keep our head down. But we promise you courageous comments so here we go.
Despite the Petro government’s criticism of U.S. intervention in Venezuela following Nicolás Maduro’s capture, Energy Minister Edwin Palma signaled openness to negotiating with the Trump administration.
Frontera announced a commitment to deliver production to Chevron and a corresponding prepayment agreement.
The Colombian Petroleum and Gas Association (ACP) General Assembly designated members of the Board of Directors for the 2026-2027 period and appointed its new Executive Board, who will assume leadership of the association’s Board of Directors for one year.
2026, Hydrocarbons Colombia, All Rights Reserved.
