News and AnalysIs for

The ongoing negotiations between the Colombian government and transporters over diesel price increases remain deadlocked.

Oil and natural gas companies in Colombia are required to pay royalties to the state, which are then distributed among municipalities and departments to finance projects aimed at improving the quality of life for Colombians. However, in recent years, the expected royalty revenues have not been met, despite stable production levels.

A legal process against Colombia’s Ministry of Mines and Energy (MinEnergia) and the National Hydrocarbons Agency (ANH), spearheaded by Diego Fernando Forero González seeks to nullify the regulation that assigned new functions to the entity.

Ecopetrol (NYSE: EC) unveiled the initial outcomes of its decarbonization strategy.

The Ministers of Finance (MinHacienda) and Mines and Energy (MinEnergia) released a draft resolution to establish a procedure for determining the international parity price.

The Petro administration announced a significant economic reactivation plan that will allocate funds from royalties to various industrial, tourism, housing, energy, agricultural, and construction sectors.

Recent adjustments in diesel prices are beginning to exert pressure on inflation rates in Colombia.

In a strategic move to underscore the significance of coal to Colombia’s economy and its role in the upcoming energy transition, key industry groups Andeg, Fenalcarbón, and Aciem have formed a powerful alliance.

Fitch Ratings has affirmed Primax Colombia’s long-term and short-term national ratings at ‘AA+(col)’ and ‘F1+(col)’, respectively, maintaining a stable outlook.

Frequent contributor Tomás de la Calle brings us his overview of 100 years of Colombian government oil industry policy. He tells us to look at the history in terms of three distinct ages: The Ancient Age, The Elephants Age and The Capybaras Age.