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Canacol Energy (TSX: CNE) announced results of the Pandereta 2 appraisal well located in the VIM 5 block in the Lower Magdalena Valley basin. The firm reported a significant new gas discovery on this block. CNE also provided information on its 2018 gas exploration and drilling programs.

Presidential candidate Gustavo Petro proposed a total change to Colombia’s economic model, where oil and mining activities are replaced by a productive agro industrial economy.

Representatives of Canacol Energy (TSX: CNE), Ecopetrol (NYSE: EC) and the Colombian Petroleum Association (ACP) gave their arguments to declare Buenaventura’s regasification plant “unnecessary”.

The Center for Economic Studies of the National Association of Financial Institutions (ANIF) conducted a study on the petrochemical value chain in 2017, and its future perspectives under the direction of Sergio Clavijo and Alejandro Vera and Juan Diego Londoño’s collaboration.

Ecopetrol (NYSE: EC) reported its reserves as of December 31, 2017. The NOC managed to report positive results despite social problems, attacks on its infrastructure and low prices during the past year.Ryder Scott Company and De Golyer & Mac Naughton audited the majority of reserves (99%).

The National Association of Electrical Generating Companies (Andeg) spoke about the impact that the ELN’s attacks had on the city’s gas, as well as on the measures they are taking to improve the situation.

Colombia faced hard times in recent years, but it seems like it survived. Projections are positive but conservative and different experts talked about the country’s economic challenges to growth.

The Minister of Mines and Energy (MinMinas), Germán Arce, appointed two engineers as expert commissioners in the Energy and Gas Regulatory Commission (CREG).

The Ministry of Mines and Energy (MinMinas) reported oil and gas production figures in the country for January 2018. Crude extraction decreased compared to the previous month, but this metric is above the government’s mid-term target.

The CEO of Ecopetrol’s (NYSE: EC) subsidiary, Alberto Consuegra, said that even though better oil prices bring positive expectations for 2018, the industry will have to overcome important challenges to leverage the new opportunities.