The debate over fracking in Colombia has once again hit a stalemate as the Fourth Chamber Commission of the House of Representatives recently sank Bill 413, which aimed to ban fracking and unconventional oil development in the country.
In recent days, President Gustavo Petro announced a significant cabinet reshuffle, potentially affecting nearly half of his ministers.
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.
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