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… but who’s fault is it?

The Colombian press certainly wants to blame the current administration – either the company’s or the country’s – for the NOC’s declining financial performance. Management blames oil prices which are, most certainly, down over last year. Our previous analyses have supported management’s thesis about short-term, tactical performance, even as we seriously question mid and long-term strategy. Now we have another bad quarter.

Frontera Energy (TSX: FEC) announced its financial and operating results for 2Q25.

GeoPark (NYSE: GPRK) CEO Felipe Bayón announced an increase in the company’s 2025 investment guidance, with all additional resources earmarked for its Colombian operations.

Ecopetrol (NYSE: EC) has once again contradicted President Gustavo Petro’s claims that the government’s massive fuel subsidy bill is responsible for Colombia’s fiscal deficit.

Primax Colombia announced that its majority shareholders, Inversiones Piuranas S.A. and Global Monastir S.L., have signed a share purchase agreement with companies affiliated with UNO Corp., under which the Central American group will acquire all shares held by the sellers.

Ecopetrol (NYSE: EC) announced its second quarter 2025 results, with yet another decrease in key metrics.

In an increasingly uncertain global energy landscape, South America is emerging as the hottest frontier for oil exploration and production.

Despite ongoing local and global uncertainty, Colombia’s economy continues to show encouraging signs of recovery.

Ecopetrol (NYSE: EC) and the Unión Sindical Obrera (USO) have sealed a strategic agreement to advance the Fuel Quality Baseline Project, a landmark initiative aimed at producing fuels that meet the highest international standards, lowering CO₂ and sulfur emissions, boosting the petrochemical industry, and contributing to Colombia’s energy transition.

During the meeting of energy ministers of the Community of Latin American and Caribbean States (CELAC), Colombian President Gustavo Petro urged the Wayúu communities to halt attempts by Glencore, Cerrejón, and Drummond to export coal to Israel.