In a move aimed at disrupting the fuel supply chains of organized crime, the Colombian government activated a new strategy to control the illegal use of hydrocarbons, which are often diverted to support activities such as drug trafficking and illegal mining.
Colombia could lose up to CoP$2.5T in fiscal revenue if the current downward trend in global oil prices continues, posing a significant challenge to the government’s efforts to balance its budget in 2025. This financial pressure adds to an already delicate fiscal landscape as the country grapples with slowing growth and a need to restore investor confidence.
GeoPark Limited (NYSE: GPRK) announced the divestment of specific non-core assets and the implementation of cost-efficiency initiatives. These actions aim to reinforce the company’s strategy of delivering profitable, reliable, and sustainable long-term growth.
Ecopetrol (NYSE: EC) and LATAM Airlines Colombia announced a groundbreaking strategic alliance to advance the energy transition in Colombia’s aviation sector.
The Comptroller General called for urgent reforms in the targeting and management of energy and gas subsidies.
Ecopetrol (NYSE: EC) warned that blockades by Indigenous communities at the Rubiales and Caño Sur fields in the Meta department have disrupted crude oil production by approximately 80,000bd.
A potential deal to import hydrocarbons from Venezuela sparked alarm in Colombia’s Congress, where lawmakers and trade officials warned it could lead to dire economic consequences, including the loss of thousands of jobs and billions in exports.
Ecopetrol Óleo e Gás do Brasil Ltda. (ECP Brasil), a subsidiary of the Ecopetrol Group, approved the Final Investment Decision (FID) for Gato do Mato, its first development project in the pre-salt area of the Santos Basin, Brazil.
Juan Manuel Rojas, President of Promigas, has been re-elected to continue as Chairman of the Board of Directors of the Colombian Natural Gas Association (Naturgas) for a second consecutive year.
Ecopetrol (NYSE: EC) is evaluating a potential acquisition of SierraCol Energy Ltd., the country’s largest independent oil producer, currently owned by private equity firm Carlyle Group.
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