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In late 2019, Ecopetrol (NYSE: EC) ventured into the fracking business in the US through a partnership with Occidental Petroleum (OXY).

The Vice Presidency of Operations, Royalties, and Participation of the ANH has released a key document on the oversight and measurement of the volume and quality of hydrocarbons produced in Colombia. Companies should have their regulatory and operations teams review the source documents. What follows is our summary of the document.

Colombia stands at a critical crossroads in its development journey. With significant challenges in the extractive sector, including a 48.93% decrease in natural gas reserves over the past 15 years, the country faces urgent decisions.

Colombia’s Energy and Gas Regulation Commission (CREG) introduced a set of new regulations designed to increase flexibility in the commercialization of natural gas.

The USO issued an urgent call to Ecopetrol (NYSE: EC) and the Colombian government to take immediate action in reactivating hydrocarbon exploration and production to boost the country’s reserves.

The distribution of wealth generated in Colombia and ensuring it reaches all regions relies heavily on the royalties’ system. This mechanism, managed by the General System of Royalties (SGR), is designed to use revenues from the efficient development of non-renewable natural resources.

After two years under President Gustavo Petro’s administration, the balance in the energy and extractive sector presents a mixed picture.

On August 26, Bogotá will host the first-ever Regional Methane Summit for Latin America and the Caribbean, a landmark event aimed at addressing the significant impact of methane—a potent greenhouse gas—on climate change.

Just as Colombia’s National Environmental Licensing Authority (ANLA) was about to issue a decision on granting an environmental license for one of Ecopetrol’s most significant offshore hydrocarbon exploration projects, a new obstacle emerged from the Ministry of Environment (MinAmbiente).

Colombia is set to see a significant increase in its natural gas transport capacity following recent decisions by the Energy and Gas Regulatory Commission (CREG).