Fitch Ratings will be watching whether Colombia’s new government succeeds in reviving hydrocarbons exploration and lifting production, according to Richard Francis, co-director of Fitch’s Latin America Sovereign Ratings group.
Colombia’s Ministry of Environment and Sustainable Development swore in its new leadership team on August 13, including Sergio Arturo Piñeros Botero as director of the Agencia Nacional de Licencias Ambientales (ANLA) — the agency responsible for environmental licensing of major hydrocarbons projects, from offshore exploration wells to pipeline infrastructure like SPEC’s recent capacity expansion.
Ecopetrol’s gas sales volume fell 22.1% in the second quarter of 2026, with gas now representing just 6.9% of the group’s total sales — down sharply from 10.6% in 2Q22, when Gustavo Petro took office.
Argentina has become Latin America’s benchmark for unconventional hydrocarbons development, and Colombia is now looking to that experience as it moves toward authorizing fracking under President Abelardo De la Espriella.
Colombia’s exports grew 7% in June and 14.2% for H1 2026, but the gains are concentrated almost entirely in oil, coal, and gold, while agricultural exports fell.
The Asociación Colombiana del Petróleo y Gas (ACP) released an economic report, “Combustibles Líquidos: Pilar de la Seguridad Energética,” arguing that ensuring liquid fuel supply and reliability – diesel in particular – will be essential to backing up the electricity system during El Niño.
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