The government of President Gustavo Petro may be running out of room to finance itself through Treasury Securities (TES), according to a recent report by Banco Itaú.
Canadian oil producer Parex Resources (TSX: PXT) reaffirmed its corporate guidance for 2025.
The Mexican government has unveiled a strategic financing plan to support state-owned oil giant Petróleos Mexicanos (Pemex) in tackling its massive financial debt, which stands at US$98.8B.
NG Energy International Corp. (TSXV: GASX) announced the spudding of the Aruchara-4 well at its Maria Conchita block and reported that gross production from the Sinu-9 block reached 22mmcfd. The company also provided a detailed operational update for both assets.
Martha Villarreal Pava, President of the Board of Directors at the Colombian Association of Petroleum Engineers (Acipet), called for a pragmatic approach to the nation’s energy debate, stressing that “without hydrocarbons, there is no possible energy transition.”
… but who’s fault is it?
The Colombian press certainly wants to blame the current administration – either the company’s or the country’s – for the NOC’s declining financial performance. Management blames oil prices which are, most certainly, down over last year. Our previous analyses have supported management’s thesis about short-term, tactical performance, even as we seriously question mid and long-term strategy. Now we have another bad quarter.
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