Former Pacific Rubiales CEO, Ronald Pantin, (now a board member at NG Energy) used to complain about a “Colombia discount” that investors imposed on E&Ps share prices. He believed the discount arose from unfavorable Colombian government policies that penalized the industry. Statistically, the discount disappeared for a while but returned with a vengeance and, seemingly, in free fall, deepens steadily.
In the Arpel-Naturgas Week, Ecopetrol (NYSE: EC) emphasized that its long-term strategy does not entail replacing the traditional hydrocarbon business but rather diversifying its ventures.
Orlando Velandia, the president of the National Hydrocarbons Agency (ANH), recently disclosed the entity’s future direction considering Colombia’s energy transition and the government’s new goals to promote unconventional renewable energies.
Parex Resources Inc. (TSX: PXT) and Ecopetrol ((NYSE: EC) announced that they have entered into definitive agreements to consolidate their position along the Llanos Foothills trend in alignment with current Colombian government goals to secure gas supply and support energy transition initiatives.
The Deputy Minister of Transportation, Carlos Eduardo Enríquez, disclosed the ongoing discussions with transporters regarding the impending increase in diesel prices in Colombia.
In a bid to revitalize regional development across Colombia and address the country’s diverse economic landscapes, the Decentralization Mission proposed significant reforms to the allocation of royalties.
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