Maurel et Prom, a French company, has acquired a stake in Colombia's Sinu-9 Gas Field
Maurel et Prom, a French oil and natural gas company, has agreed to increase its ownership stake of Colombia's Sinu-9 field by 21%, for a total cost of $79 million. This is part of its ongoing expansion in Colombia. Maurel et Prom now owns 61% of the total gas block. The remainder is owned by Canada's NG Energy International.
Haiti's capital is in darkness after residents attack hydroelectric plant
Haiti's Port-au-Prince, the capital city of Haiti, was left in darkness on Wednesday as residents from a nearby village stormed and shut down a dam in protest of government inaction against gang violence. According to U.N. estimations, gangs have tightened the grip on Haiti.
Colombian oil and gas E&P investments could increase by 8% in 2025 according to an industry group
Colombia's top industry group warned on Thursday that the country's investment in hydrocarbon exploration and production could increase by 8% to $4.68 billion this year. However, this will not prevent a decline in gas production. The Colombian Oil and Gas Association, ACP…
Statkraft, a Norwegian company, will sell 10 renewable energy companies to Colombian Ecopetrol
Ecopetrol, Colombia's state oil company, announced on Tuesday that it has signed an agreement with Statkraft of Norway to purchase 10 wind and solar project development companies. Ecopetrol's Chief Executive Ricardo Roa stated that the portfolio of projects may total up to 1.3 Gigawatts…
Ecopetrol, Colombia's oil company, plans to cut costs as the price of crude drops
Ecopetrol, Colombia's state-owned oil company, plans to reduce costs by 232 million pesos (about 1 trillion pesos) and show more flexibility with its investment plan this year. Chief Executive Ricardo Roa announced the news on Wednesday. Roa spoke with analysts in a conference…
Ecopetrol Colombia reports a 22% drop in profit for the first quarter
Ecopetrol, Colombia's largest state-owned oil company, reported a 22% drop in net profits for the first quarter. The amount was $3.13 trillion Colombian Pesos (US$730.54 millions) compared with the same period last year. Total sales of the energy company for the three-month span were 31.37 trillion Pesos.
Colombia considers long-term contracts for gas imports to cover the deficit and lower prices
Edwin Palma, Minister of Mines and Energy in Colombia, said that the government may sign long-term contracts for gas imports to help cover its energy shortage and reduce prices. According to the Colombian Natural Gas Association, (Naturgas), Colombia is facing a shortage of gas of 7.6%.
Ecopetrol president warns that lower oil prices could reduce profits for the full year by $2.8 billion
Ecopetrol, Colombia's state-owned oil company, warned that lower oil prices could cause its profits to drop by as much as 12 trillion pesos (2.76 billion dollars) this year. Ecopetrol's president Ricardo Roa said to journalists at an industry event that the company may have to stop producing in some fields…
US refiners are unlikely to spend large amounts to process more domestic crude oil
It can be expensive and time-consuming to change refinery configuration. The margins and yields of refineries can be affected by using different types of crude. By Arathy S. Analysts and industry sources said that U.S. refiners do not plan to invest heavily to process more…
Colombia's Ecopetrol resumes Cano Sur and Rubiales field operation
Ecopetrol, Colombia's state energy company, announced on Friday that it had begun to resume oil field operations in Rubiales and Cano Sur after reaching an agreement with the local Indigenous association which had blocked the area. According to the company, the two oilfields…
Carlyle is looking for buyers of Colombian oil producers
According to sources familiar with the matter, Carlyle's private equity group is looking for a buyer of its Colombian oil company SierraCol. The price would be around $1.5 billion. SierraCol was established by Carlyle in 2020, after purchasing assets from Occidental Petroleum.
Ecopetrol executive: We are looking to expand our in-house energy production to include wind power.
Ecopetrol, Colombia's state energy company, is looking at new investments, including purchasing projects run by multinationals to meet its own energy needs. A company vice president revealed this on Wednesday. Julian Lemos is Ecopetrol's vice president of strategy and new business.
Colombia regulator: Licenses for Petrobras and Ecopetrol offshore projects will be ready by mid-2026
Orlando Velandia of Colombia's hydrocarbons regulatory agency said that by mid-2026 the Brazilian state-run Petrobras, and its Colombian equivalent Ecopetrol, could have all the licenses they need to move forward with a joint offshore project in Colombia. The project is now…
Ecopetrol will borrow up to $2 billion to finance acquisitions
Ecopetrol, Colombia's largest state-owned oil company, plans to borrow up to $2 billion this year in order to fund investment. It will also consider raising funds through banks and the capital markets. The debt will be used for inorganic investments such as new projects or assets.
Ecopetrol's profits will drop 22% by 2024
Ecopetrol, Colombia's largest state-owned oil company, reported on Tuesday that its annual net profit in 2024 will drop by nearly 22% due to a stronger U.S. Dollar and lower oil prices internationally. The Colombian government owns 88.5% of the shares in the energy company.
Colombia's first auction of offshore wind energy attracts global interest
The National Hydrocarbons Agency of Colombia (ANH), a South American agency, announced on Thursday that companies from all over the world had proposed developing 69 offshore areas for the country's first offshore energy auction. The auction represents a major step towards President Gustavo Petro’s goal to diversify the energy sector…
EDPR reports unexpected loss due to heavy impairments in US and Colombia
EDP ???? ?Renovaveis ? ??????????????????????? The world's fourth largest wind power producer posted a net loss of unexpected 556 million euro ($584million) in 2024 due to heavy impairments for projects in the United States, Colombia and other countries, despite revenue increases.
Ecopetrol, Colombia records the largest increase in oil and gas reserves proven in three years
Ecopetrol, the company owned by Colombia's majority government, reported that its proven oil and natural gas reserves increased to 1,89 billion barrels equivalent in 2024. In recent years, the country's oil reserves and gas reserves has become a hot topic in politics as fears…
Colombia's Petro wants Ecopetrol to sell its fracking operations.
The Colombian president Gustavo Petro called on Tuesday for the sale by Ecopetrol of its fracking operations within the United States in order to invest in renewable energy. In an unusual live broadcast, the leftist leader made his request to Andres Camacho, minister of mines, energy and environment.
Ecopetrol shares fall after Colombian Petro demands sale of US Fracking business
Ecopetrol, Colombia's largest state-owned energy company, fell by 2.20% to 2,005 pesos (US $0.48) each in the early hours of trading on Wednesday. This was after President Gustavo Petro demanded that the company sell its U.S. Fracking business. Petro's remarks late on Tuesday…
