The president of Colombia’s oil workers’ union, Unión Sindical Obrera (USO), César Loza Arenas, called on Ecopetrol (NYSE: EC) to step up exploration of oil and gas in the country, warning that the state-owned company cannot wait until “the pot is scraped clean.”
Colombia’s economy grew 2.1% in the second quarter of 2025, but the mining and oil sectors dragged heavily on overall performance with steep declines.
Ecopetrol (NYSE: EC) confirmed that two of its key exploratory wells drilled in the first half of 2025 failed to deliver commercial hydrocarbon results.
Colombian President Gustavo Petro reignited debate over the impact of fuel subsidies on public finances, declaring that the nation’s fiscal deficit will ultimately be paid either through higher taxes or more expensive gasoline.
Ecopetrol (NYSE: EC) is preparing new asset sales for the remainder of 2025, as confirmed during the company’s second-quarter financial results presentation.
The government of President Gustavo Petro may be running out of room to finance itself through Treasury Securities (TES), according to a recent report by Banco Itaú.
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