News and AnalysIs for

Colombia’s incoming government faces a hydrocarbon challenge that goes well beyond production and reserves: a systematic theft operation that is simultaneously draining Ecopetrol’s revenues, fueling illegal economies, and evolving faster than the state’s monitoring capabilities.

Ecopetrol and Petrobras marked a milestone in their pre-production social commitments for the Sirius offshore project on July 23, formally delivering piped natural gas connections to 1,500 families in Riohacha, Manaure, and Dibulla, alongside 1,500 new stoves distributed free of charge to guarantee immediate use of the service.

If true, Ecopetrol’s leadership transition accelerated sharply on July 23^rd, with unconfirmed reports of two related developments simultaneously: Ricardo Roa’s official departure date confirmed as July 30^th, and a significant reshaping of the board that clears the path for the incoming de la Espriella government to restructure the company’s governance from day one.

So far, we see nothing on the Ecopetrol investor site confirming either of these stories.

The collective agreement signed between the USO and Ecopetrol has been fully disclosed and its most strategically significant feature is not any individual benefit but the duration of the contract itself.

Colombo-Venezuelan petrochemical company Monómeros Colombo Venezolanos S.A. has been rescued from insolvency after the Superintendency of Companies confirmed a reorganization agreement in hearings held on July 3 and 10, ending a sixteen-month legal process that began when Supersociedades initiated ex officio reorganization proceedings in March 2025 following a financial deterioration that threatened the company’s viability as a going concern.

GeoPark’s 2Q26 operational update, published July 21st, reveals a Colombian portfolio where the strategic story is less about new discoveries and more about the sophisticated management of existing assets.

Petro’s outgoing government filed its final tax reform before the new Congress on July 21^st, placing the mining and energy sector at the center of the fiscal controversy for the second time in four years.

The Canacol Energy case moved into its Colombian legal chapter on July 16^th when Promigas and Gases del Caribe confirmed to El Heraldo that the Alberta Court of King’s Bench had issued formal termination orders for their supply and transport contracts with the Canadian gas producer.

Ecopetrol disclosed on July 17 that an unidentified external actor successfully accessed its cloud storage environments without authorization, downloading data associated with approximately 3,300 user accounts across 15 companies within the Ecopetrol Group.

Campo Rubiales completed a decade of direct operation under Ecopetrol on July 3^rd, 2026 – marked from the moment in July 2016 when the state oil company assumed control of the field following the expiry of the operating contract held by Pacific Rubiales, now Frontera Energy.