News and AnalysIs for

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.

The National Association of Financial Institutions (ANIF) emphasized that while the global shift towards renewable energy is inevitable, oil and gas will remain essential components of the energy matrix for the foreseeable future.

The Ministry of Mines and Energy (MinEnergia) pushed to create the Colombian Minerals Company, known as Ecominerales. However, the Inspector General’s Office voiced serious concerns regarding the viability and implications of this ambitious project.

The title caught my eye instantly in Carbon Tracker’s monthly newsletter so I quickly downloaded the report and signed up for the associated webinar. I also quickly found the analysis focused exclusively on the UK and some very specific conditions but it got me thinking about Carbon Capture Usage and Storage and Colombia.

President Gustavo Petro Urrego called for comprehensive forensic audits to oversee the allocation and use of peace funds and royalties in the country.

Colombian President Gustavo Petro tasked his new Minister of Commerce with reinforcing plans to transition the country’s economy away from its reliance on coal and oil revenues—key economic drivers—toward agroindustry and tourism.

Orlando Velandia, president of the National Hydrocarbons Agency (ANH), emphasized that Colombia’s energy security is not at risk and assured that the government is actively seeking to utilize existing and potential discoveries.