The prospective end of the US-Iran conflict and the expected reopening of the Strait of Hormuz have sent crude prices sharply lower, with Brent falling into the US$70s per barrel, levels not seen since before the outbreak of hostilities.
Colombia’s Ministry of Mines and Energy and the National Hydrocarbon Agency (ANH) presented the 2025 Resources and Reserves Report (IRR 2025) on June 23, certifying that the country’s proven oil reserves held essentially flat at 2,020 million barrels as of December 31, 2025, with the reserves-to-production ratio (R/P) improving to 7.4 years from 7.2 despite a 4% drop in annual production and a 14% decline in average Brent prices.
While still not yet official, Abelardo de la Espriella won Colombia’s June 21 presidential runoff with 12,949,162 votes against Iván Cepeda’s 12,701,546, a margin of 250,830 votes and 0.95 percentage points, the narrowest gap in percentage terms since the second-round system was introduced in 1994. Cepeda has now conceded defeat.
Two of Colombia’s most prominent oil and gas industry associations moved quickly after the June 21 second-round result to signal institutional alignment with president-elect Abelardo de la Espriella.
Ecopetrol and Germany’s development cooperation agency GIZ signed an agreement on June 19 to conduct feasibility and engineering studies for a Power-to-Liquid pilot plant at the Cartagena refinery, aimed at producing e-SAF — electronic Sustainable Aviation Fuel — from green hydrogen.
Calgary-based Arrow Exploration Corp. reported average production of 4,715 boed for the first quarter of 2026, a 15% increase over the same period in 2025 and 19% above Q4 2025, driven primarily by additional volumes from the Mateguafa Attic field in the Tapir block.
S&P Global Ratings affirmed Ecopetrol’s global issuer credit rating at BB- with a stable outlook on June 16, while also confirming the company’s stand-alone credit profile (SACP) at bb+.
Ecopetrol’s research arm, the Colombian Institute of Petroleum and Energy Transition (ICPET), has launched a new operating model built around “technology suites” dedicated to water conservation, decarbonization, and nature-based solutions, marking a significant expansion of its experimental infrastructure at the El Chircal eco-reserve in Piedecuesta, Santander.
The president of Colombia’s National Electoral Council (CNE), magistrate Cristian Quiroz, moved quickly on June 22 to deflate the legal significance of Iván Cepeda’s announced mass challenge to the second-round results.
Road and access blockades at Ecopetrol’s subsurface operations in the Meta municipalities of Acacías, Guamal, and Castilla La Nueva reached 52 days as of June 17, with the company issuing a forceful statement from Villavicencio condemning the disruption and calling for a return to dialogue.
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