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Ecopetrol (NYSE: EC), is at the center of a storm after revelations surfaced regarding a US$5.8M contract with US law firm Covington & Burling.

For the first time in 25 years, Cristina Mendoza no smells of smoke. Her kitchen in Palmar de Varela, Atlántico, no longer fills with the gray haze of burning firewood. Instead, a clean, blue flame now fuels her stove, a modest change for some, but a life-changing transformation for thousands of families across Colombia.

I wrote reluctantly about Colombia’s apparently scandal-ridden NOC just two weeks ago. Reluctantly because I rarely find scandals to be strategic. I hoped I would not have to do it again this year. But independent board member, Monica de Greiff, resigned this past week and the press assumes that CEO Ricardo Roa will leave shortly.

Rising violence in Colombia is once again threatening the stability of its business environment, reminiscent of the turmoil experienced in the 1990s. Armed conflict, extortion, and infrastructure attacks are putting corporate operations at risk and forcing companies to reassess their presence in key regions of the country.

Mónica de Greiff has submitted her irrevocable resignation from the Board of Directors of Ecopetrol (NYSE: EC).

The Colombian Natural Gas Association (Naturgas) issued a stark warning following the release of a new report showing a 13% drop in the country’s proven natural gas reserves in 2024.