Ecopetrol's Q1 profit drops 7.7%
Ecopetrol, Colombia's state-owned oil producer, reported on Tuesday a 7.7% decline in net profit for the first three months of 2026 from a year ago. This was due to lower sales and exchange rate effects. Higher taxes also offset gains made by a strong refining performance.
Colombia asks Glencore to talk with the locals about the closure of Cerrejon coal mining
The Ministry of Mines and Energy in Colombia said that it would ask Glencore to hold a meeting with the authorities of La Guajira, a northern province, as well as community representatives, to discuss the closing of the Cerrejon open-pit mine. This mine is one of the largest coal mines in the world.
UN Climate chief: Iran war supercharges clean energy transition
U.N. Climate Secretary?Said Thursday that the Iran war has "supercharged" the global shift to'renewable energy' as countries scramble to lower their exposure to volatile oil markets. The U.S. and Israeli 'war with Iran' has disrupted?oil & gas supplies. Some countries have rationed fuel…
Ecopetrol, Colombia's largest oil company, saw profits of up 3 trillion pesos during the first quarter.
Ecopetrol, the state-owned energy company in Colombia, estimates a first-quarter net profit between $563.1 and $844.7 millions (between 2 to 3 trillion?pesos). The state oil company is expected to generate between?27 trillion and?30 trillion pesos in revenue between January and March of this year.
As the Iran War drives up prices, nations meet to discuss fossil-fuel exit.
This week, around 60 countries, including Brazil and Germany, Canada and Nigeria, will meet to discuss the phasing-out of fossil fuels. The Iran War has thrown global oil and gas prices into chaos and sent them soaring. Santa Marta's gathering of officials and ministers will begin on Tuesday.
Colombia announces auction for renewable energy
Edwin Palma, Colombia's Energy Minister, announced a upcoming renewable energy auction on Wednesday. He said he will travel to the United States to promote this. Palma stated during a conference in Cartagena that he would be in New York Monday and Tuesday to discuss energy…
Takaichi, the PM of Japan, says that Japan will release an extra 20 days of oil reserves in May.
Sanae Takaichi, the Prime Minister of Japan, announced at a cabinet meeting held on Friday that Japan will release 20 days worth of oil reserves in May to ensure stable supply domestically while also searching for barrels from outside the Middle East as the conflict in this region disrupts global supplies.
Ecopetrol's interim leader pledges to spend efficiently for stability
Interim Chief Executive Juan Carlos Hurtado, of Colombia's state-owned energy company Ecopetrol, said that the firm aims to increase its own sustainability by being efficient in spending, practicing capital discipline and reducing costs. Hurtado was appointed interim CEO of…
The CEO of Colombia's state oil company takes a leave of absence amid an investigation into influence peddling
Ecopetrol, the Colombian state energy company, announced on Monday that it had granted CEO Ricardo Roa a 'longer holiday and an unpaid leave of absence'. This was in response to an investigation conducted by the Attorney General’s Office into allegations of influence peddling.
Colombia: Venezuela's PDVSA intends to terminate pipeline contract with Ecopetrol
Edwin Palma, Colombia's Energy?Minister, said Venezuela's PDVSA state oil?company intends to terminate a contract with Colombia Ecopetrol?over?the Antonio Ricaurte?pipeline. He claimed that there was not enough?investment in its repair. Palma, in a Saturday post on X, said that the government planned to meet the U.S.
Russell: Quality is important as coal prices rise amid LNG spikes on Iran War
The rise in spot prices of liquefied gas (LNG), but only in higher-quality grades, has led to a price increase for seaborne thermal coal. Last week, the spot price of LNG in Asia nearly doubled as the market digested a loss of almost 20% of global supply of super-chilled fuel after U.S.
GeoPark rejects Frontera's offer to increase the price of its Colombian oil and gas assets
GeoPark announced in January a definitive deal to acquire Frontera's oil & gas exploration and production assets for $375m. The Parex offer was first announced in February and is valued at $500,000,000 in cash. This includes the assumption of debts as well as a contingent payment for $25,000,000.
Frontera Energy: Parex bid superior to previous Geopark bid
Toronto-listed Frontera?Corporation, said in a late Thursday statement that, after consulting with independent financial advisers and legal counsel, it has determined that the 'binding' offer received from Parex Resources Inc. for its Colombian Upstream Operations is superior to another bid received previously from Geopark.
Ecopetrol, Colombia's oil company, invests in higher oil prices and Venezuela deals
It said that if oil prices continue to rise due to the 'U.S./Israeli war against Iran,' it will review its investment plans in April. Ecopetrol has predicted that it will invest a higher amount than its range of 22 to 27 trillion pesos ($5.79-7.11billion) due to higher crude prices resulting from the conflict.
Ecopetrol's quarterly profit drops by 61%
Ecopetrol, Colombia's state-owned oil company, reported on Wednesday a 60.8% decline in profits for the fourth quarter compared to a year earlier. This was due to lower Brent crude oil prices, lower gas sales at home, and a weaker currency. The company reported in a filing…
Ecopetrol's Q4 profit drops by 58%
Ecopetrol, Colombia's state-owned oil producer, reported on Wednesday a 58% decline in profits for the fourth quarter compared to a year ago. This was due to lower Brent crude prices, lower gas sales in Colombia, and effects of a weaker currency. The company reported in a…
Canada's Parex Resources has offered $500 million for Frontera Energy Colombia's assets
Parex Resources announced on Monday that it has submitted a $500 million cash-only proposal to purchase the Colombian Upstream Operations of Frontera Energy. The offer includes the assumption of debt as well as a contingent payment amounting to $25 million. Parex stated that…
US oil companies juggle Venezuelan opportunity and investor concerns ahead of White House Summit
U.S. Oil executives will weigh the business potential of Venezuela and the enthusiasm expressed by President Donald Trump against the cautious attitude expressed by their investors when they are summoned to meet at the White House this Friday to discuss possible investment plans.
Venezuelan oil will boost US refiners but hurt Canadian producers
Refiners in the United States would be able to absorb most of the approximately 1 million barrels of crude oil per day if U.S. Sanctions on Venezuela are lifted. According to a report on Tuesday, the U.S. has been in talks with Venezuela about exporting crude oil from the South American country to the United States. Sources say that U.S.
Venezuelan oil will boost US refiners but hurt Canadian producers
Refiners in the United States would be able to absorb the majority of the approximately 1 million barrels of crude oil per day that would be traded freely if the sanctions were lifted. The sanctions against the South American nation are lifted. Canadian oil companies, who sell heavy crude similar to that of Venezuela…
