News and AnalysIs for

The Colombian government’s decision not to increase diesel prices has resulted in significant fiscal costs to cover the subsidy.

Campetrol, with information of the Ministry of Mines and Energy (MinEnergia), published data on fuel demand in December 2023.

In response to the ongoing wildfires that have ravaged parts of Colombia for four consecutive days, Minister of Mines and Energy (MinMinas) Andrés Camacho, through a statement on X, authorized Terpel to provide diesel, to firetrucks stationed atop hills and to motor pumps strategically positioned across fire-affected areas.

In October 2022, the Colombian government initiated a phased increase in gasoline prices, citing the need to address the deficit that had accumulated in the Fuel Price Stabilization Fund (FEPC), but this tendency seems to end.

Terpel, the second-largest revenue-generating company in Colombia after Ecopetrol, has unveiled its strategic plans for 2024, encompassing significant expansions and green initiatives.

The Ministry of Mines and Energy (MinEnergia) announced fuel prices for the first month of 2024. Here are the details.

In the ever-evolving landscape of global fuel prices, the average cost of gasoline worldwide (95 octane) stands at approximately US$1.30 per liter in 2024.

Colombia emerges as a significant biofuels producer in Latin America, positioning itself as a key player in crafting solutions for the decarbonization of transportation, as highlighted by FedeBiocombustibles.

The recent discourse surrounding gas exploration in Colombia has sparked debates, particularly after President Gustavo Petro mentioned the suspension of new gas exploration projects during his speech at the Climate Change Summit in Dubai (COP28). This decision stands in contrast to recent announcements and plans within the energy sector.

During the Ministry of Mines and Energy’s public accountability hearing, Orlando Velandia Sepúlveda, the President of the National Hydrocarbons Agency (ANH), addressed the issue of using the existing 300 contracts efficiently across more than 15 million hectares.