Colombian President Gustavo Petro tasked his new Minister of Commerce with reinforcing plans to transition the country’s economy away from its reliance on coal and oil revenues—key economic drivers—toward agroindustry and tourism.
In December 2014, Ecopetrol announced its first deep-water hydrocarbon (natural gas) discovery in the Caribbean Sea off the coast of Colombia at the Orca-1 well, located 40 kilometers north of La Guajira.
Orlando Velandia, president of the National Hydrocarbons Agency (ANH), emphasized that Colombia’s energy security is not at risk and assured that the government is actively seeking to utilize existing and potential discoveries.
Mauricio Palma, the Deputy Director of Hydrocarbons at the Unit of Mining and Energy Planning (UPME), announced a that the Colombian government is determined to proceed with a new call for proposals to build the Pacific regasification plant.
The National Environmental Licensing Agency (ANLA) announced a significant measure to recognize the Cesar Governor’s Office as a third-party intervenor in multiple national interest projects.
Colombia’s leading companies are bracing for a sharp increase in energy costs as the nation’s dwindling natural gas production forces a reliance on expensive imports to prevent shortages.
The importation of natural gas from Venezuela to Colombia remains a hotly debated issue among stakeholders in the hydrocarbons sector.
In a significant move to ensure the effective use of royalties in Colombia, the President of the Colombian Association of Petroleum and Gas (ACP), Frank Pearl, announced the creation of a monitoring mechanism for managing these resources.
In the US, four law firms have launched investigations into Ecopetrol (NYSE: EC) to determine whether the company or any of its executives violated US securities laws or engaged in improper business practices.
The National Administrative Department of Statistics (DANE) reported the value of Colombian exports during April 2024.
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