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President Donald Trump’s ambitious plan to revitalize Venezuela’s oil industry through USD$100B in private investment faces significant obstacles as major oil companies express skepticism, culminating in Trump threatening Sunday to exclude ExxonMobil from the South American nation after its CEO called Venezuela “uninvestable.”

Despite the Petro government’s criticism of U.S. intervention in Venezuela following Nicolás Maduro’s capture, Energy Minister Edwin Palma signaled openness to negotiating with the Trump administration.

President Gustavo Petro requested that state-owned Ecopetrol substantially reduce internal natural gas prices as Colombia confronts a growing gas shortage forcing dependence on costlier imports. According to the country’s commodities exchange, internal gas production is projected to fall up to 20% below demand next year.

Promigas announced on December 23 a new advance in the Barranquilla-Ballena Bidirectionality Project by placing into operation, ahead of schedule, 20 mmcfd of additional natural gas transport capacity between the Caribbean coast and Colombia’s interior.

The NOC published a press release that set the stage for the Ministry’s announcement of increased gas declarations.

Just before the end of December, the NOC published a press release on this important potential source of new gas.

Presidencia issued a press release saying that Ecopetrol and Sierracol had updated their natural gas production declaration, directing more from “own use” to the pipeline network.

Transportadora de Gas Internacional (TGI), a Grupo Energía Bogotá subsidiary, signed a binding commercial agreement with Höegh Evi to establish a Floating Storage and Regasification Unit (FSRU) for a regasification plant in La Guajira, specifically at Ballena.

State oil company Ecopetrol assumed sole responsibility for several offshore exploration and production gas projects in Colombia’s Caribbean following Shell’s formal departure as partner in these contracts.

Colombia’s government unveiled comprehensive measures addressing anticipated 2026 gas deficits through coordinated actions with sector agents, the Superintendence of Public Utilities (SSPD), and the Superintendence of Industry and Commerce (SIC).