Colombia’s oil industry faces a grim outlook in 2025 as production declines, exploration investment hits record lows, and international oil prices remain weak.
Ecopetrol (NYSE: EC) moved to justify its US$42M payment for the Termomorichal I and II power plants after W Radio disclosed internal emails that appeared to question whether the company was obligated to pay at the end of the BOOMT (Build, Own, Operate, Maintain and Transfer) contract.
Colombia continues to grapple with the economic toll of recurring roadblocks.
President Gustavo Petro’s government introduced its third tax reform, once again tightening fiscal pressure on Colombia’s oil and coal producers.
Everyone in the industry worries about natural gas production falling because that means more imports and higher prices for gas users and for electricity users. So why does it continue to decline?
Colombia has revived a politically charged idea: importing natural gas from Venezuela before year-end.
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