(Ecopetrol, 30.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC), informs that during the session held on Friday 27 August 2021, its Board of Directors approved the framework for the Third Round of the Program for the Issuance and Placement of Common Stock, in accordance with Law 1118 of 2006. The […]
Category: Colombia
Colombia energy
Coltan In Your Smartphone Finances Colombian Guerrilla Armies
(Vice, 25.Aug.2021) — A recent seizure highlights how “corrupt Colombian government officials have helped to launder Venezuelan coltan into licit supply chains in Colombia,” said one expert. Authorities in southern Colombia pulled over a cargo truck looking for drugs in early August. But instead of finding a pile of cocaine […]
LatAm Briefs: Guyana-Suriname Basin Reserves
(Energy Analytics Institute, 21.Aug.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina pondering its allocation of energy subsidies, Ecopetrol closing on an earlier announced $3.7bn ISA deal, reserves in the Guyana-Suriname Basin continuing to rise, and trafficking of coltan rising between Colombia and Venezuela, and much […]
Ecopetrol closes ISA transaction
(Piero Stewart, Energy Analytics Institute, 20.Aug.2021) — Colombia’s state oil giant Ecopetrol S.A. announced on 20 Aug. 2021 that closing conditions set forth in the inter-administrative contract, dated 11 August, between the Bogotá-based company and the Colombian Ministry of Finance and Public Credit (MHCP by its Spanish acronym) were satisfactorily […]
LatAm Countries To Discuss Climate Actions
(Governmenf of Panama, 20.Aug.2021) — The Governments of Argentina, Barbados, Chile, Colombia, Costa Rica, the Dominican Republic and Panama will co-organize the “High-Level Dialogue on Climate Action in the Americas”, on 8 September 2021. The event will bring together representatives of governments, private and financial sector, multilateral financial institutions , […]
S&P Maintains Ecopetrol Rating At BB+
(Ecopetrol, 18.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE; EC) announced that the risk rating agency Standard & Poor’s maintained the international long-term rating of Ecopetrol at BB+ and the individual credit rating (Stand Alone) at ‘bbb- ‘, with stable outlook. The agency highlighted the company’s strategic relevance for Colombia and the […]
Ecopetrol Gets Go Ahead For $4bn Loan For ISA Acquisition
(Ecopetrol, 16.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) informs that by means of Resolution 1928 of 13 August 2021, the Ministry of Finance and Public Credit (MHCP) authorized the company to enter into an external credit loan with international banks for up to four billion dollars ($4bn), whose exclusive purpose […]
MPC Energy Starts Construction Of PV Plant In Colombia
(MPC Energy, 12.Aug.2021) — MPC Energy Solutions (MPCES) and Akuo Energy commenced construction of Parque Solar Planeta Rica, a solar photovoltaic (PV) project in Colombia. The project is a joint venture with Akuo Energy, a leading French developer and operator of renewable energy projects. “The start of the construction of […]
Ecopetrol To Pay $3.7bn For ISA Stake
(Ecopetrol, 11.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) informs that on 11 August 2021, it signed the Inter-administrative Share Purchase Agreement with the Colombian Ministry of Finance and Public Credit (MHCP), through which the company agreed to acquire 569,472,561 shares of Interconexión Eléctrica S.A. ESP (ISA), equivalent to 51.4% of […]
LatAmBriefs: TGI Eyes Buenaventura LNG Import Project
(Energy Analytics Institute, 9.Aug.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina fining Edesur and Edenor; Transportadora de Gas Internacional (TGI) eyes developing Colombia’s second liquefied natural gas (LNG) import project in Buenaventura; and more from Ecuador, Mexico and Venezuela. Argentina — Argentina’s National Electricity Regulatory […]
Colombia To Leverage Coal, Gas For Blue H2 By 2030
(Argus, 9.Aug.2021) — Colombia has issued a draft roadmap for hydrogen development that would start by leveraging the country’s coal and natural gas resources for “blue” production before moving into green hydrogen derived from renewable energy in the next decade. “Blue hydrogen is a low-emissions alternative for the progressive transition […]
Ecopetrol’s 2Q:21 Earnings Call Transcript
(Motley Fool, 4.Aug.2021) — Colombia’s state oil giant Ecopetrol hosted its second quarter 2021 conference call to discuss operational and financial details. What follows is the transcript of the call. Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning. My name is Hilda, and I will […]
LatAm Briefs: Ecopetrol Results, Guyana Oil Lift
(Energy Analytics Institute, 3.Aug.2021) — Energy briefs from the Latin America and Caribbean region including: New Pacific Metals Corp. commencing a diamond drilling program in Bolivia, Ecopetrol’s strong second quarter results [PDF download], Ecopetrol CEO Felipe Bayón Pardo says company eyeing green hydrogen projects, and Guyana’s most recent one million […]
Ecopetrol Reveals 2Q:21 Results
(Ecopetrol, 3.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announced the Ecopetrol Group’s financial results for the second quarter and the first half of 2021. In words of Felipe Bayón Pardo, CEO of Ecopetrol: The strength of Ecopetrol Group’s results in the quarter and year to date, despite a challenging situation […]
Ecopetrol Q2 Profit Soars To $951mn
(Reuters, 3.Aug.2021) — Colombia’s majority state-owned oil company Ecopetrol’s second-quarter net profit soared to 3.72 trillion pesos ($951 million), boosted by strong sales, the company said on Tuesday, compared with 25 billion pesos in the year-earlier period. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 9.43 trillion pesos, […]
Ecopetrol Submits Binding Offer For ISA
(Ecopetrol, 2.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) informs that during the meeting held on Friday 30 July 2021, its Board of Directors authorized the Legal Representative of the company to submit a binding offer to acquire the Ministry of Finance and Public Credit’s 51.4% stake of the outstanding shares of Interconexión Eléctrica S.A. E.S.P – […]
Ecopetrol Approved For $1.2bn Credit Line
(Ecopetrol, 2.Aug.2021) — By means of Resolution 1824 of 30 July 2021, the Ministry of Finance and Public Credit authorized the execution of a contingent credit line (“Committed Credit Line”) up to an amount of $1.2bn for Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC). The proceeds from this facility may be […]
Santander Court Revokes Fine On Ecopetrol
(Ecopetrol, 2.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) was notified of the decision issued by the Administrative Court of Santander that voided the 22 December 2011 and 8 August 2016 resolutions, respectively, through which the Ministry of Labor – Territorial Directorate of Santander, imposed a fine of sixteen million sixty-eight […]
Ecopetrol Opposes Injunctive Related To ISA
(Ecopetrol, 29.Jul.2021) — Ecopetrol S.A. (BVC: Ecopetrol;NYSE: EC) reports that on 28 July 2021, it filed a statement in opposition to the preliminary injunctive relief requested within a public action (acción popular) to which it was named as defendant by means of a judicial order notified on 21 July. The acción popular […]
Ecopetrol To Host 2Q:21 Conf. Calls
(Energy Analytics Institute, 29.Jul.2021) — Colombia’s state oil giant Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) will release its financial and operating results for the second quarter of 2021 (2Q:21) on 3 August 2021, after market close. On 4 August the company’s senior management will host two conference calls to review the […]
Frontera To Host 2Q:21 Results Conf. Call
(Energy Analytics Institute, 29.Jul.2021) — Frontera Energy Corporation (TSX: FEC) plans to release its second quarter 2021 (2Q:21) results after markets close on 11 August 2021. A conference call for investors and analysts will be held on 12 August at 10:00 a.m. Eastern Time. Participants on the call will include […]
LatAm Briefs: Train 1 Mothballing, CVP Appointments
(Energy Analytics Institute, 28.Jul.2021) — Energy briefs from the Latin America and Caribbean region including: rising Brazilian imports of US LNG, Ecopetrol’s electric vehicles fleet, Hess reports 2Q:21 results, Trinidad ponders mothballing Atlantic LNG’s Train 1, new appointments at CVP in Venezuela, and more. Brazil — Brazil’s imports of US […]
![Andrés Pastrana Talks Of Colombia Situation [Video]](https://energy-analytics-institute.org/wp-content/uploads/2021/08/Dionisio-Gutierrez-meets-with-Andres-Pastrana.jpg)
Andrés Pastrana Talks Of Colombia Situation [Video]
(Fundación Libertad y Desarrollo, 27.Jul.2021) — Dionisio Gutiérrez, President of Fundación Libertad y Desarrollo, recently met with the former president of Colombia, Andrés Pastrana, and discussed the political situation in the Latin American region, particularly the emergence of a new wave of populist dangers. Regarding the return of populism and […]
LatAm Briefs: Argentine Output, Colombian Renewables
(Energy Analytics Institute, 22.Jul.2021) — Energy briefs from the Latin America and Caribbean region including: daily production details from Argentina’s Neuquén region to 13 renewable projects identified by Colombia’s Ecopetrol and more. Argentina — Daily production in Argentina’s Neuquén region reached a record 193,000 barrels per day, the highest volume […]
Frontera Reveals Expected 2Q:21 Production Results
(Frontera, 16.Jul.2021) — Frontera Energy Corporation (TSX: FEC) expects second quarter production results and updated its production guidance for 2021. Second Quarter and First Half 2021 Production Update Frontera expects its second quarter 2021 production will average approximately 35,700 boe/d, compared to 40,599 boe/d in the first quarter of 2021. […]
Canadian Solar To Enter Energy Storage Project In Colombia
(Canadian Solar, 12.Jul.2021) — Canadian Solar Inc. (NASDAQ: CSIQ) has been awarded the first utility-scale battery storage project in Colombia of 45 MW / 45 MWh. The project was awarded in the public tender launched by Colombia’s Ministry of Energy and Mines, via its affiliate UPME, the Mining and Energy […]
LatAm briefs: ENRE fines, “Zama drama” in Mexico
BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 9.Jul.2021, Words: 421) — Energy briefs from the Latin America and Caribbean region including: oil prices remaining above the $75/bbl mark, Argentina’s ENRE imposing fines on Edenor, an energy storage system in Barranquilla, and more. Oil Prices — As of 7 […]
Ecopetrol Downgraded By Fitch
(Energy Analytics Institute, 7.Jul.2021) — Fitch Ratings downgraded Ecopetrol S.A.’s downgraded the state oil company’s foreign currency and local currency Issuer Default Ratings to BB+ from BBB- with a Stable Outlook. The downgrade is in line with a similar action on the rating of the Republic of Colombia. Ecopetrol’s stand-alone […]
Patterson-UTI Energy To Buy Pioneer Energy Services
(Patterson-UTI Energy, 6.Jul.2021) — Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295mn, which includes the retirement of all Pioneer Energy Services‘ debt. Consideration for this acquisition consists of the issuance of up to 26,275,000 shares of Patterson-UTI common stock plus payment […]
Colombia Anticipates New Offshore Oil Exploration
(Bloomberg, 1.Jul.2021) — Oil majors are gearing up to explore off the coast of Colombia, offering hope to a country struggling to reverse declines in reserves and output of its biggest export. Royal Dutch Shell Plc is planning to drill this year in the Caribbean, while Exxon Mobil Corp., Repsol […]
Colombia’s Ecopetrol Incorporates Singapore Affiliates
(Ecopetrol, 1.Jul.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) concluded the incorporation of Ecopetrol Singapore Pte Ltd., a company in which it will directly own 100% of its share capital. In turn, the aforementioned company will own 100% of the share capital of Ecopetrol Trading Asia Pte Ltd., whose main purpose […]
Ecopetrol Gets OK To Issue, Place Bonds
(Ecopetrol, 30.Jun.2021) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) received authorization from the Ministry of Finance and Public Credit, through Resolution 1484 of 29 June 2021, to structure the issuance and placement of bonds in the international capital markets for up to $1.4bn, to finance organic growth opportunities and the […]
Colombia To Launch Hydrogen Road Map
(Reuters, 29.Jun.2021) — Colombia will launch plans in September to develop the production and use of hydrogen as a long-term clean energy source, the Minister of Mines and Energy said on Tuesday, while voicing hope this year’s oil and gas auction will be successful. The South American country will publish […]
Glencore Snaps Up BHP, Anglo Stakes In Colombian Coal Mine
(Reuters, 28.Jun.2021) — Diversified miner Glencore will become the sole owner of the Cerrejon thermal coal mine in Colombia by buying out partners BHP and Anglo American, boosting its coal assets at a time when others are looking to exit the sector. Glencore said on Monday it expects to pay […]
Ecopetrol Extends Exclusivity Period Related To Potential ISA Acquisition
(Ecopetrol, 24.Jun.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) informs that the Exclusivity Agreement signed with the Ministry of Finance and Public Credit (MHCP) on 12 February 2021, in connection with Ecopetrol’s potential acquisition of MHCP’s 51.4% stake in Interconexión Eléctrica S.A. (ISA), has been extended until 31 August 2021. The […]
Frontera Closes Offering Of 7.875% Notes
(Energy Analytics Institute, 21.Jun.2021) — Frontera Energy Corporation completed its offering of $400mn in senior unsecured notes due 2028 at a coupon rate of 7.875%. Frontera used some proceeds from the offering to repurchase, at a premium, the company’s $350mn 9.7% senior secured notes due 2023 pursuant to a tender […]
GeoPark Comments On Letter From Former Chair
(GeoPark, 18.Jun.2021) — GeoPark Limited (NYSE: GPRK) issued the following statement in response to the letter sent to the Board by its former Chair Gerald O’Shaughnessy: “Since GeoPark’s inception, we have always worked to ensure we have the skills, capabilities and necessary tools to become the leading independent E&P Company […]
GeoPark’s O’Shaughnessy Issues Open Letter To BODs
(GeoPark, 18.Jun.2021) — Gerald O’Shaughnessy, the co-founder, former Chairman and second largest shareholder of GeoPark Limited (NYSE: GPRK) issued an open letter to the Board of Directors of GeoPark. The full text of the letter follows: 18 June 2021 Dear Members of the Board: I am writing you now because […]
Colombia’s UPME Extends Investor Selection Deadline For LNG Terminal
(Energy Analytics Institute, 11.Jun.2021) — Colombia’s Energy Mining Planning Unit, or UPME, announced that the investor selection process related to a second liquefied natural gas (LNG) import terminal would take place in October 2021, three months later than originally planned. The presentation of bid envelopes for the project, to be […]
B2Gold Declares Dividend Of $0.04/Share
(B2Gold Corp. 11.Jun.2021) — B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) announced that its Board of Directors declared a cash dividend for the second quarter of 2021 of $0.04 per common share (or an expected $0.16 per share on an annualized basis), payable on June 30, 2021, to shareholders of record as of 22 June 2021. All […]
![Colombia’s Oil and Gas Industry Revival [Request Free Webinar]](https://energy-analytics-institute.org/wp-content/uploads/2021/06/2021-06-10-at-16-14-29-3rd-International-Business-Congress-and-Exhibition-Colombia-Oil-and-Gas-2021.png)
Colombia’s Oil and Gas Industry Revival [Request Free Webinar]
(Energy Analytics Institute, 10.Jun.2021) — Vostock Capital team offers the possibility to watch Opening Session of the Colombia Oil and Gas 2020. Request Free Webinar Here Among the session participants: — Miguel Lotero, Vice Minister of Energy and Mines, Ministry of Energy and Mines Colombia, Topic of the presentation: Perspectives […]
Colombia Oil And Gas 2021: 21-25 June
(Energy Analytics Institute, 9.Jun.2021) — This years “Colombia Oil And Gas 2021” event is right around the corner and will consist of a business congress and one-to-one meetings. Online Business Congress and 1-2-1 meetings Colombia Oil and Gas is an international, professional platform, bringing together flagship oil and gas companies […]
GeoPark Names New Independent Director Fernanda Suarez, Independent Chair Gomez
(GeoPark, 8.Jun.2021) — GeoPark Limited announced the appointment of an independent chair and the nomination of a new independent member of the Board for election at the upcoming Annual General Meeting, to be held on 15 July 2021. These changes further strengthen the company’s governance profile and create a majority […]
LatAm Briefs: Castillo Leads In Peru’s Latest Election Count, Ecopetrol Net Zero
(Energy Analytics Institute, 8.Jun.2021) — Energy briefs from the Latin America and Caribbean region including: Peruvian elections results now showing Free Peru (Politico Nacional Peru Libre) leftist candidate Pedro Castillo leading contender Keiko Fujimori, and Colombia’s state oil company Ecopetrol reiterating its net zero goals for 2050 Peru Elections Results […]
Frontera Commences Tender Offer For Its Outstanding 9.7% Senior Notes Due 2023
(Frontera, 7.Jun.2021) — Frontera Energy Corporation (TSX: FEC) is commencing a cash tender offer and consent solicitation for any and all of its outstanding 9.700% Senior Notes due 2023, upon the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated as […]
Frontera’s CPE-6 Operations Impacted By Protests
(Frontera, 3.Jun.2021) — Frontera Energy Corporation (TSX: FEC) announced that due to road blockades in the municipality of Puerto Gaitan, Colombia, which have restricted the company’s ability to transport its production by truck and deliver other essential operational supplies and support to its facilities, the company has reached its on-site […]
Life Expectancy For Colombia’s Proven Oil Reserves Closed 2020 Stable At 6.3 Years
(Reuters, 1.Jun.2021) — Colombia’s proven oil reserves at the end of 2020 were equivalent to 6.3 years’ worth, stable versus 2019, despite declining 11% to 1.82 billion barrels as lower oil prices caused exploration activity to slump, the government said Tuesday. Proven reserves – also known as 1P reserves – […]
MPC Energy Provides 1Q:21 Update
(MPC Energy Solutions, 31.May.2021) — MPC Energy Solutions N.V., Amsterdam, gives an update on the Q1 2021 figures. The company only commenced its full operations in early 2021. The result and the balance sheet for the first quarter therefore do not yet allow any conclusions to be drawn about the […]
Colombian Army Dismantles 2 Clandestine Refineries in the Catatumbo Region
(General Command of the Colombian Military Forces, 25.May.2021) — In military operations area control, Troops of Task Force Vulcano of the Second Division of the National Army, dismantle, in the municipality of Tibú, Norte de Santander, two illegal refineries, which stored the raw petroleum stolen from the Caño Limón – […]
LatAm Briefs: Ecopetrol’s Barrancabermeja Refinery, Venezuela Oil Forecast
(Energy Analytics Institute, 26.May.2021) — Energy briefs from the Latin America and Caribbean region including: loads reported steady at Ecopetrol’s Barrancabermeja Refinery; and Venezuela’s production of crude oil expected to rise slightly in 2021, according to estimates revealed by Ecoanalitica. Ecopetrol’s Reports Steady Loads At Barrancabermeja Refinery The loads at […]