No one likes to be blamed for something they didn’t do. In the days following Gustavo Petro’s victory in Colombia’s recent presidential elections, Colombia-focused oil and gas stocks nosedived, with Ecopetrol in particular losing over 25% of its value at one point. Petro says “I’m not to blame” saying all oil and gas stocks were in decline because of the inevitability of energy transition. Let us use the data to see if he is right.
Oil, gas, and companies dedicated to the derivatives of this sector such as transportation and marketing come from a year in which international prices served to pull up revenues.
Ecopetrol (NYSE: EC) will increase propane deliveries to the market.
Canacol Energy (TSX: CNE), in the pursuit of environmental sustainability and the fight against climate change, announced that its Greenhouse Gas (GHG) emissions decreased.
Energy Insights in collaboration with McKinsey Sustainability and the Global Energy and Materials Group and Advanced Industries produced an outlook for the energy market in the coming years.
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