Colombia’s state-owned oil company Ecopetrol (NYSE: EC) announced an extension of its temporary 50% fee reduction for converting and purchasing its American Depositary Receipts (ADRs), following a favorable market response.
The discovery of the Sirius offshore gas field in Colombia’s Caribbean waters has been hailed as a breakthrough for the country’s energy future. With an estimated output of 450mmcfd, about 45% of the national demand, the project promises to provide short-term relief amid growing concerns about domestic gas shortages.
Luis Eduardo Parra Rodríguez is set to become the new president of Hocol, a key subsidiary of Colombia’s state-owned oil company, Ecopetrol (NYSE: EC).
Promigas, one of Colombia’s leading natural gas transportation companies, has announced a major investment of US$1.2B over the next four years in four key infrastructure projects aimed at eliminating transportation bottlenecks and ensuring stable gas supply across the country.
Primax Colombia, one of the country’s leading fuel distributors, announced a new strategic alliance with McDonald’s to reward Colombian consumers with fuel savings through an innovative campaign titled “El Match Perfecto.”
Colombia’s natural gas supply is facing a growing crisis, with a projected shortfall of 20% by 2026, according to the Gas Market Operator (GMO) under the Bolsa Mercantil de Colombia.
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