In a historic turn, remittances to Colombia have officially overtaken oil exports as the country’s leading source of foreign currency, marking a fundamental shift in the nation’s external income structure.
The recent announcement by Shell to withdraw from key gas exploration projects in Colombia has sparked serious concerns among energy experts and former government officials.
Ecopetrol (NYSE: EC) announced that Colombia’s Ministry of Finance (MinHacienda) authorized the company to secure a US$500M external loan with Banco Santander.
Louis Gerard, Seeking Alpha columnist, wrote an article entitled “Ecopetrol is the victim of bad policies.”
The DIAN and DANE reported the behavior of Colombia’s imports during February this year.
NG Energy International Corp. (TSXV: GASX) announced steady production of over 10mmcfd from its Magico-1X and Brujo-1X wells at the Sinu-9 Block in Colombia.
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