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A new proposal from the Colombian government could dramatically reshape the country’s vehicle market.

Colombia’s supply of propane is entering a critical phase as natural declines in producing fields and lower availability from refineries are tightening domestic output.

Credit rating agency Moody’s Ratings has downgraded Canacol Energy’s (TSX: CNE) corporate family rating (CFR) from Caa1 to Ca and its senior unsecured global bonds from Caa1 to Ca, while maintaining a negative outlook.

Despite global uncertainty in the energy market and local challenges surrounding taxation and environmental licensing, Canadian oil producer Parex Resources (TSX: PXT) remains firmly committed to Colombia, the only country where it operates.

Ecopetrol (NYSE: EC) announced a new plan to increase natural gas production and strengthen energy reliability in Colombia’s Meta and Casanare departments.

Colombia’s most powerful oil workers’ union, the Unión Sindical Obrera (USO), has formally distanced itself from President Gustavo Petro’s vision of the country’s energy transition, accusing his policies of endangering Ecopetrol (NYSE: EC), the state-controlled oil giant.