News and AnalysIs for

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.

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.