News and AnalysIs for

The Colombian oil sector faced tough times due to low oil prices and social conflict, but the industry managed to overcome this challenges and it is recovering lost ground. The Ministry of Mines and Energy (MinMinas) and the National Hydrocarbons Agency (ANH) reported Colombia oil and gas reserves in 2018, with positive results in term of oil, but there are concerns about the behavior of natural gas reserves.

The president of the National Hydrocarbons Agency (ANH), Luis Miguel Morelli, announced that the government will grant areas for gas exploration activities. Here are the details.

For the first time, the National Environmental Licensing Agency (ANLA) will strengthen its activities in the country’s regions, thanks to resources from the General Royalty System (SGR).

Acipet, the petroleum engineers’ association has been an important voice in defense of the industry’s interests. Here, the organization’s Chairman of the Board, Carlos Alberto Leal Niño, argues that the important work of transitioning away from fossil fuels in the future should be financed by developing the country’s hydrocarbons today.

President Iván Duque opened the event where the government introduced the Mission of Experts that will lead Colombia’s energy transition process.

Ministry of Finance (MinHacienda) Alberto Carrasquilla said that the government is analyzing the option of developing an oil hedge program at the end of the year. Ecopetrol’s (NYSE: EC) CEO, Felipe Bayón, spoke on the matter.

CEO Felipe Bayón spoke about Ecopetrol’s (NYS:EC) positive financial results during the first quarter of the year.

The offshore industry has been popular among top global firms who decided to bet on Colombia’s Caribbean area. The ANH thinks new blocks in the Pacific might have just as much success.

The government presented the final version of its National Development Plan (PND) to the Congress, where it included an article about unconventional projects. Here are the details.

Last week was a controversial one in Colombia’s congress with the ongoing battle over peace process implementation, approval of royalty reform in its opening debate and the final authorization of the government’s long-term economic plan (known as the PND for its initials in Spanish). The press reacted strongly to a clause about fracking but the politics of how one newspaper reacted was surprising, to me at least.