Ecopetrol’s (NYSE: EC) President, Ricardo Roa Barragán, refuted claims that the Sirius (formerly Uchuva) wells, located in the Colombian Caribbean Sea and operated in partnership with Petrobras International Braspetro B.V. were unproductive.
Adwar Moisés Casallas Cuéllar, Director of Hydrocarbons at Colombia’s Ministry of Mines and Energy, has left his position amid an administrative shake-up following the appointment of Edwin Palma Egea as the new head of the entity.
The Superintendent of Industry and Commerce (SIC) is facing strong backlash following its intervention in Naturgas.
For years, our editorial point of view was that importing gas was an unacceptable and unnecessary loss of energy sovereignty. We opposed building a second regas facility on the Pacific coast saying that the resources should be directed to encouraging domestic gas development. But, now, pragmatism means we have to modify our position.
Investment in gas exploration in Colombia has declined, and incentives for drilling new wells have been limited.
President Gustavo Petro’s recent directive for Ecopetrol (NYSE: EC) to import gas from Qatar has sparked widespread debate, revealing significant logistical and economic challenges that make this demand unfeasible in the short term.
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