Its late September and most companies have started their planning processes for 2025. By November or December management teams will present their CAPEX budgets and performance targets for approval. For oil-focused E&Ps – and everyone else as well probably – most of the debate will be about the price of Brent.
The Colombian government, led by President Gustavo Petro, confirmed plans to introduce differential pricing for diesel fuel (ACPM).
The Colombian Gas Association (Naturgas) released its annual report, emphasizing the industry’s efforts to increase gas supply amid warnings of a potential gas shortage in 2025.
On September 13, a judge in Santa Marta issued a ruling that halted exploration and exploitation activities at the Uchuva 2 gas field, one of Colombia’s most critical energy projects in the coming years. The Ministry of Mines and Energy (MinEnergia) responded to this ruling.
The Ministry of Mines and Energy (MinEnergia) issued Resolution 40360 of 2024 to establish the criteria, minimum requirements, and standards that energy and gas infrastructure projects built under the “Work for Taxes” mechanism must meet for satisfactory approval.
In a recent sectoral report on natural gas in Colombia, Bancolombia’s Economic, Sectoral, and Market Research Division warned that the development of offshore gas projects in the Caribbean will lead to higher energy prices in the medium term.
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