Latin America enters a new phase of oil industry reconfiguration in 2026, with some countries facing progressive reserve depletion while others consolidate expansion in production, exports, and capital market access.
President Gustavo Petro issued a stark warning that Ecopetrol should immediately sell its participation in the Permian Basin project in the United States, citing growing risks following his inclusion on the Clinton List (OFAC sanctions list).
Promigas presented solid financial and operational results for the third quarter of 2025, demonstrating continued strengthening of its business portfolio while contributing to Colombia’s energy transition with reliable and innovative solutions.
Petrobras is advancing multiple natural gas exploration initiatives in Colombia’s Caribbean waters while navigating the complex approval process for its flagship Sirius project, according to Alcindo Moritz, president of Petrobras in Colombia.
Ballena on the Caribbean coast produces only a fraction of what it used to but still contributes an important amount to the country’s dwindling supplies. Ecopetrol also plans to convert it to a gas import facility.
Three controversies have engulfed Colombia’s state oil company Ecopetrol in recent weeks, involving alleged financial misconduct, irregular financial tracking, and violation of campaign financing laws when Ricardo Roa ran Gustavo Petro’s 2022 election bid.
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