News and AnalysIs for

The President of the National Hydrocarbons Agency (ANH), Orlando Velandia, provided insights about the updated process allowing companies to cancel oil and gas contracts or return their areas to the State due to environmental restrictions.

The Medium-Term Fiscal Framework (MFMP) presented by Finance Minister Ricardo Bonilla includes the transfer expected from Ecopetrol to the government with a worrying result.

After the results of the exploratory gas well drilling in the Caribbean offshore, Orca Norte 1, Ecopetrol decided to cancel the pipeline project that was planned to connect this deposit with the existing pipeline in the Chuchupa field, generating concerns in the country.

Colombia’s Environment Minister (MinAmbiente) Susana Muhamad revealed the financial hurdles the country faces in its energy transition.

We came across the National Planning Department’s detailed royalty budget for 2023 – 2024 (a two-year budget) and a bit of analysis got us thinking about what drives the allocation. The simple pie-chart illustrates some of the key points but we did some more sophisticated work to show the main levers.

Carlos Grateron, Technical Director of the National Federation of Biofuels (Fedebiocombustibles), declared that Colombia leads the world in carbon footprint reduction.

Luis Carlos Reyes, the newly appointed Minister of Commerce, Industry, and Tourism (MinComercio), outlined his key priorities.

After a long run of revaluation, the Colombian peso has devalued over 7% just since the beginning of June. That got us thinking again about oil prices, specifically Brent, in pesos versus dollars.

Recent reports from the National Hydrocarbons Agency (ANH) have highlighted a significant issue: Colombia’s dwindling gas and oil reserves.

Natalia Pardo Villaveces, Ph.D., and Carlos Daniel Cadena, Ph.D., from Universidad de los Andes, emphasized the critical role of geosciences in understanding natural processes and making informed decisions to prevent or respond to disasters.