S&P Global Ratings has downgraded the credit rating of Canacol Energy Ltd. (TSX: CNE), one of Colombia’s leading natural gas producers.
Since Donald Trump became President of the United States on January 20th, 2025 –really since he was elected in early November, 2024 – global stock markets have been on a magic carpet ride, from the highs of expectations of market-driven policies to the lows of fears of a tariff-war induced global depression. Share prices of oil and gas producers have ridden the same magic carpet, with Colombian companies pulled along by the same forces.
Luz Stella Murgas, president of the Colombian Natural Gas Association (Naturgas), presented a comprehensive proposal to President Gustavo Petro’s administration.
In the face of a mounting energy crisis, business leaders in Santander are urging the Colombian government to reopen the conversation on expanding the country’s energy sources, specifically, using techniques like hydraulic fracturing, better known as fracking.
Ecopetrol (NYSE: EC) launched a research project aimed at repurposing petroleum coke, a carbon-rich material typically used as an industrial fuel, into a soil additive to improve forest soil quality.
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.
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