A controversial shift may be occurring in Colombia’s fuel subsidy system: experts claim that gasoline users are now indirectly subsidizing diesel consumers. This claim comes amid the Petro administration’s gradual dismantling of the fuel subsidy scheme that once cushioned consumers from global price fluctuations.
GeoPark Limited (NYSE: GPRK) announced that Phoenix Global Resources has chosen to withdraw from a previously agreed transaction involving a non-operated interest in four unconventional blocks in Argentina’s Vaca Muerta formation. As a result, GeoPark will not complete the acquisition.
Fitch Ratings affirmed the Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) of SierraCol Energy Limited at ‘B+’, maintaining a Stable Outlook.
Ecopetrol (NYSE: EC) reported a CoP$10T increase in its debt over the past year, driven entirely by the depreciation of the Colombian peso.
Canacol Energy (TSX: CNE) announced its financial and operational results for the three months ending March 31st, 2025.
Global banking giant Citi has weighed in on the recent downturn in Ecopetrol’s (NYSE: EC) share price and earnings, following the Colombian oil company’s first-quarter results, an ongoing tax dispute with the national tax authority (DIAN), and growing concerns over declining global crude prices.
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