Colombia’s natural gas shortage is driving an environmental reversal in the industrial sector, forcing companies to switch from cleaner fuels to more polluting alternatives. Between January 2025 and January 2026, Colombian industry substituted 38.6 Giga BTU per day of natural gas – equivalent to 16% of non-regulated industrial demand – with higher-emission fuels.
On Sunday, Colombians voted for the Senate and lower chamber (Representatives). As of writing, there are no official results but the much simpler Senate structure makes it easier to be reasonably accurate with predictions, based on the popular vote.
Frontera Energy reversed course March 5, 2026, determining that a binding offer from Parex Resources to acquire its Colombian upstream exploration and production assets constitutes a “Superior Proposal” compared to its previously announced arrangement with GeoPark Limited.
Colombia’s National Hydrocarbon Agency reported collecting CoP$29.6T in royalties between August 2022 and December 2025, demonstrating strong fiscal performance despite challenges in the sector.
Commercial tensions between Colombia and Ecuador escalated dramatically after Ecuadorian President Daniel Noboa announced initial tariffs on Colombian imports, triggering a 900% increase in crude oil transport fees that directly impacts Ecopetrol’s operations.
But we still think the issues are mostly beyond management’s control. That is, it is not Ricardo Roa and the Petro government’s fault (entirely) at least at the operational level. Strategy? Management distractions? That’s another issue.
Gran Tierra Energy announced Q4 2025 average working interest production of 46,344 boed and full-year 2025 production of 45,709 boed, representing a 32% increase from 2024, driven by positive exploration results in Ecuador, full-year Canadian operations, partially offset by pipeline disruptions in Southern Colombia and Ecuador. The company achieved its seventh consecutive year of South American reserves growth with over 100% reserve replacement for both PDP and 2P categories, reporting year-end reserves of 142 mmboe (1P), 258 mmboe (2P), and 329 mmboe (3P).
GeoPark Limited announced a private investment in public equity (PIPE) transaction with Colden Investments S.A., an affiliate of Jaime Gilinski’s Grupo Gilinski, in which Colden invested approximately US$107M to acquire 12,876,053 newly issued common shares at US$8.31 per share.
The Ethics Council of Norway’s Government Global Pension Fund, administered by Norges Bank Investment Management, recommended excluding Ecopetrol from its portfolio over alleged human rights violations in its operating areas, effective March 2, 2026.
Martín Ravelo, who assumed the presidency of the Unión Sindical Obrera (USO) one month ago, outlined the union’s defense of Colombia’s oil and gas industry and its concerns about the government’s energy transition approach in an interview addressing fracking, Ecopetrol’s challenges, and political developments.
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