Colombia’s Mines and Energy Ministry says it will rebuild gas self-sufficiency in stages, with more imports in the short term, fracking in the medium term and the Sirius and KGG fields in the long term, aiming to recover capacity progressively through the 2030s.
Ecopetrol has named Armando José Cuello Navarro, who served as deputy minister of energy, as vice president of Energy for the Transition, and he will join the executive team no later than Oct. 27.
Multinsa, a petrochemical company in Barrancabermeja, says nanotechnology and artificial intelligence are at the core of its oil and gas products, and that it sees 2026 as a transition year with expectations pointing to 2027.
Brent closed at US$116.58 per barrel last Friday, October 23rd, and as we write on Monday, it closed at US$115.13, today having been back to US$117.11 and as low as US$114.21. Exactly one year ago, Brent’s Friday close was US$65.69 and we wrote about how E&Ps might react if it fell further.
Campetrol, the oil, gas and energy chamber, has proposed measures to strengthen Colombia’s oil and gas sector, including more output from existing fields, onshore and Caribbean development, and expanded exploration.
Four industry associations have asked the government to eliminate the income-tax surcharge on oil extraction in its Rescue Law and to set stable rules for large investments.
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