A sharp decline in Ecopetrol’s (NYSE: EC) contributions to the Colombian government is anticipated over the next few years, according to projections outlined in the recently published Medium-Term Fiscal Framework (MFMP).
Colombia’s National Planning Department (DNP) unveiled a comprehensive strategy to improve oversight and transparency in the use of royalties; public funds derived from the extraction of non-renewable resources like oil and minerals.
Gas supply continues to fall while gas demand rises. The obvious consequence is that imports rise and thus the average cost of gas. The Petro government has even stopped saying that everything is under control or threatening to fine E&Ps that “waste” gas. Where did it go?
As Colombia’s fossil fuel production declines amid lower global prices and a national policy shift away from extractive industries, critical questions emerge about the future of royalties, the backbone of regional development in many parts of the country.
A recent ruling by the Administrative Court of Cundinamarca has ordered the Colombian government, under President Gustavo Petro, to allocate and execute the necessary funds to pay energy and gas subsidies owed to low-income households across the country.
Frank Pearl, President of the Colombian Association of Oil and Gas (ACP) issued a stark warning about the direction Colombia is taking under President Gustavo Petro’s administration.
At the IV Sustainability Forum of the Colombian Association of Oil and Gas (ACP), a critical panel titled “Rethinking the Environment: New Competencies in Territorial Planning” addressed the complex and often ambiguous roles of Indigenous communities in environmental regulation.
At the IV Forum on Sustainability Milestones, Andrés Bitar, Vice President of Strategy and Regulatory Affairs at the Colombian Petroleum Association (ACP), emphasized the scale of the challenge facing Colombia in decarbonizing its transportation sector, a critical step toward meeting national and global climate targets.
At the closing session of the IV Sustainability Forum hosted by the Colombian Petroleum Association (ACP), a political panel of presidential pre-candidates spotlighted the future of Colombia’s energy sector, with a unified message: the country must reactivate hydrocarbon exploration to ensure energy security and economic stability.
Colombia’s Office of the Comptroller General (CGR) identified fiscal irregularities totaling more than CoP$2.1T (approximately US$550M) in projects funded by the General System of Royalties (SGR) between 2023 and 2025.
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