(Energy Analytics Institute, 16.Mar.2021) — Energy briefs from the Latin America and Caribbean regions Bolivia and Venezuela including Ambar executives seeking a deal for piped gas from Bolivia’s YPFB, PDVSA shutting its Cardón Refinery in Falcón state, and Venezuela reportedly shipping around 50% of its diesel production to Cuba. Ambar […]
Category: Colombia
Colombia energy
Frontera Announces Normal Course Issuer Bid
(Frontera, 15.Mar.2021) — Frontera Energy Corporation announces that the Toronto Stock Exchange (TSX) has accepted its notice to initiate a normal course issuer bid (the “NCIB”) for its common shares. Pursuant to the NCIB, Frontera may purchase up to 5,197,612 common shares during the twelve-month period commencing 17 March 2021 […]
LatAmNRG Briefs: YPF Fuels, Colombian Fracking
(Energy Analytics Institute, 15.Mar.2021) — Energy briefs from the Latin America and Caribbean regions Argentina, Colombia and Venezuela including: Tenaris snatches up Baker Hughes Argentina, YPF raises fuel prices again, Colombia’s ANH awaits offers for more pilot fracking projects and Venezuela suffers a severe diesel shortage. Tenaris Acquires Baker Hughes […]
EPM On Success Of Modular FACTS
(Smart Wires, 10.Mar.2021) — EPM innovates to serve their customers by investing in solutions that improve quality of life throughout their service territory. To fulfil this purpose, EPM announces its successful application of Modular FACTS (Flexible Alternating Current Transmission Systems). This places EPM at the forefront of the electricity sector […]
Frontera Reports YE:20 Reserves
(Frontera, 3.Mar.2021) — Frontera Energy Corporation announced the results of its annual independent reserves assessment conducted by DeGolyer and MacNaughton (D&M). All dollar amounts in this news release and the Company’s financial disclosures are in United States dollars, unless otherwise noted. Richard Herbert, Chief Executive Officer, commented: “In 2020, Frontera […]
Frontera Announces CEO Succession
(Frontera, 3.Mar.2021) — Frontera Energy Corporation announced the appointment of current director Orlando Cabrales Segovia as Chief Executive Officer. The company also provided an update on its 2021 Strategic Plan, including its growth opportunity in Guyana, its full year 2021 guidance, and its plans to implement a normal course issuer bid […]
Chinese Loans To LatAm Plunge As Virus Strains Ties
(AP, 24.Feb.2021) — It seemed like a match made in finance heaven. In 2010, China, its economy roaring and state companies looking to expand globally, set its eyes on Latin America, a region starved of capital but rich in natural resources the Asian giant lacked. The result: a record US$35 […]
Ecopetrol Earnings Results Call Transcript For 4Q:20
(Seeking Alpha, 24.Feb.2021) — Colombia’s Ecopetrol S.A. announced results of operations for the fourth quarter of 2020. Details from the related earnings conference call held on 24 February 2020 follow: Company Participants Felipe Bayón – CEO Alberto Consuegra – COO Jaime Caballero – CFO Milena López – Director, Strategy and […]
Ecopetrol: 2020 Earnings Distribution Proposal
(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. hereby informs of the company’s 2020 earnings distribution proposal, approved by its Board of Directors, which will be submitted for the consideration of the General Shareholders Meeting that will take place on 26 March 2021: The earnings distribution project proposes, in line with the company’s […]
Ecopetrol Reports 4Q:20 And YE:20 Results
(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. reported today the financial results of the Ecopetrol Group for the fourth quarter and the cumulative results for 2020, prepared in accordance with the International Financial Reporting Standards applicable to Colombia. * Excluding the effect of expenses associated to the Voluntary Retirement Plan, EBITDA amounts […]
Ecopetrol Minority Owners Nominate Candidate
(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. informs that in accordance with the subscription of the Declaration of the Nation as majority shareholder and the established procedure, the representatives of the minority shareholders deposited with Ecopetrol an agreement whereby they agreed to nominate Dr. Carlos Gustavo Cano Sanz as their candidate to […]
Ecopetrol Adopts Measures For Shareholders’ Meeting
(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. reports that in order to comply with the provisions of Part III Title I Chapter VI of the Basic Legal Circular issued by the Financial Superintendency of Colombia (SFC for its Spanish acronym) (E.C. 029 of 2014), the Board of Directors of Ecopetrol approved the […]
Ecopetrol’s Annual General Shareholders’ Meeting
(Ecopetrol, 23.Feb.2021) — The Chief Executive Officer of Ecopetrol S.A. hereby summons all Shareholders to the Annual General Shareholders’ Meeting to be held remotely on Friday, 26 March 2021, starting at 9 a.m. The agenda for the meeting will be: Safety guidelines Quorum verification Opening by the Chief Executive Officer […]
Ecopetrol’s Reserves Fall To 1,770 MMboe At YE:20
(Ecopetrol, 19.Feb.2021) — Ecopetrol S.A.’s consolidated crude oil, condensates and natural gas proven reserves (1P reserves, according to the standard international denomination) as of 31 December 2020. Reserves were estimated based on US Securities and Exchange Commission (SEC) standards and methods. 99% of the reserves were audited by five recognized […]
Ecopetrol To Report On Its 2021-2023 Business Plan
(Ecopetrol, 18.Feb.2021) — Ecopetrol S.A. announces that on 23 February 2021 after market close, it will release its financial and operating results for the fourth quarter and full year 2020, and the 2021-2023 Business Plan. On 24 February, Ecopetrol’s senior management will host two conference calls to review the results […]
SeaOne Granted 30-Year Port Concession In Buenaventura
(SeaOne Holdings, 10.Feb.2021) — SeaOne Holdings, LLC, which is developing various projects for the delivery of US produced natural gas and natural gas liquids (NGLs) to the Caribbean, Central and South America, today announced that Colombia’s National Infrastructure Agency (ANI) has granted and approved an initial 30-year port concession to […]
Ecopetrol On Decision Related To Lisama 158 Well
(Ecopetrol, 9.Feb.2021) — Ecopetrol S.A. has been notified of the decision issued by Colombia’s National Environmental Licensing Authority (ANLA), as per Resolution 290 of 9 February 2021, whereby a fine has been imposed on Ecopetrol S.A. in the amount of COP$ 3,863,918,267 for the oil seepage in the vicinity of […]
Ecopetrol Updates On Offer To Acquire ISA Stock
(Ecopetrol, 8.Feb.2021) — Ecopetrol S.A,, pursuant to the provisions set forth in Article 5.2.4.1.6 – Decree 2555/2010, does hereby confirm the information published in several media outlets that last 5 February 2021, received a written communication issued by the Ministry of Finance and Public Credit, whom, among other things, announced […]
Ecopetrol Eyes Two Promising Developments
(Energy Analytics Institute, 31.Jan.2021) — Colombia’s state oil and gas company Ecopetrol is eyeing two promising developments in Colombia that could utilize initial lessons learned abroad from offshore Brazil and the US Permian Basin. The first relates to an offshore development and the second relates to pilot fracking projects. The […]
Petrobras And Ecopetrol Bullish On 2021
(Argus, 28.Jan.2021) — Just as Covid-19 affected each Latin American country differently, so too is the outlook of each country’s future crude oil production and exports. Colombia’s state-owned Ecopetrol and Brazil’s state-run Petrobras developed years-long strategies that in a year fraught with hurdles managed to yield higher export figures in […]
Ecopetrol’s Bid For ISA Ratifies Govt Linkage
(Fitch Ratings, 28.Jan.2021) — Ecopetrol’s (BBB-/Negative) non-binding offer for the Colombian government’s 51.4% stake in Interconexion Electrica (ISA, BBB+/Negative) ratifies the company’s close linkage with the government, according to Fitch Ratings. Although Fitch does not expect the transaction to impact Ecopetrol’s ratings, as they will continue to be equalized with […]
Ivan Duque Officially Opens Trina Solar Plant
(Trina, 27.Jan.2021) — The second phase of the Los Llanos photovoltaic power plant project developed and managed by Trina Solar in Colombia has been connected to the grid and the start of its commercial operations officially declared. The President of Colombia, Iván Duque Márquez, cut the ribbon at the delivery […]
Ecopetrol Bids For Transmission Giant
(Argus, 27.Jan.2021) — Colombia’s state-controlled Ecopetrol is seeking to acquire state-controlled electricity transmission giant Isa in an aggressive move away from its core oil business. Ecopetrol presented a non-binding offer for the government’s stake in Isa, equivalent to more than 51pc of the shares in circulation, the company said this […]
ProColombia Launches Nature Tourism Guides
(ProColombia, 25.Jan.2021) — ProColombia, the government entity in charge of promoting international tourism, foreign direct investment, non-mining energy exports and the country brand, is encouraging eco-conscious travelers to consider Colombia as their next international destination when planning 2021 vacations. To inspire travelers and educate them on the country’s efforts, Colombia […]
Ecopetrol Says Pipeline Theft Rose 46% Last Year
(Reuters, 20.Jan.2021) — Theft of crude oil from pipelines operated by Colombia’s state-controlled oil company Ecopetrol rose by 46% last year, driven by surging robberies along the Cano Limon-Covenas pipeline, a company spokesman said. On average, 2,638 barrels per day of oil were stolen last year, up from 1,806 bpd […]
Ecopetrol On Sale Of Stake In Offshore Int’l Group
(Ecopetrol, 19.Jan.2021) — Ecopetrol S.A. signed a Share Purchase Agreement with De Jong Capital LLC, through one of its subsidiaries as buyer, pursuant to which Ecopetrol sold its 50% ownership interest in Offshore International Group (OIG). This divestment is the result of a successfully competed process between a number of […]
Five Illegal Refineries Destroyed in Norte de Santander
(General Command of the Colombian Military Forces, 13.Jan.2021) — Through a joint, coordinated and interagency operation conducted by the Colombian Air Force, the National Army, the National Police and the CTI (Technical Investigations Corps) of the Attorney General’s Office, it was possible to find and destroy, in a controlled manner, five illegal refineries for fuel production, which […]
Colombia Said To Review Divesting Stake In ISA
(Bloomberg, 6.Jan.2021) — Colombia’s government is reviewing plans to sell a stake in Interconexion Electrica SA that is attracting interest from publicly owned companies, according to people with direct knowledge of the matter. Grupo Energia Bogota is among companies considering a bid for the stake in the transmission company, while […]
University Of Los Llanos Inaugurate Meta Campus
(Ecopetrol, 30.Dec.2020) — Ecopetrol and the University of Los Llanos “Unillanos” gave the service the second phase of works of this educational institution at the boquemonte headquarters, in the municipality of Granada (Meta), which will benefit more than 2,000 students from this important region of Colombia. The investments were made […]
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Colombian Officials On Ecopetrol And Shell Deal [VIDEO]
(Energy Analytics Institute, 24.Dec.2020) — Officials from Colombia’s National Hydrocarbon Agency (ANH) and Ministry of Mines commented on approval of assignment of a 50% interest held by state owned Ecopetrol to Shell as well as operation by Shell of three blocks off the Colombian Caribbean coast. RELATED STORY: The ANH […]
ANH Approves Deal Between Ecopetrol And Shell
(ANH, 24.Dec.2020) — The ANH approved the entry of Shell EP Offshore Ventures Limited, Colombian branch as operating partner of three Hydrocarbon Exploration and Production contracts in the deep waters of the Colombian Caribbean, through the assignment of 50% interest in each of those contracts, held solely by the Colombian […]
Venezuela’s Oil Unions Accuse Govt Of Persecution
(AFP, 23.Dec.2020) — Venezuela’s vital oil industry is failing and the socialist government is feeling the pressure, and now the regime of President Nicolas Maduro is being accused of lashing out at the sector’s unions. In recent months, several union leaders have been arrested, accused of terrorism, sharing confidential information […]
Facing An Economic Crisis, Colombia Turns To Fracking
(Sierra Club, 17.Dec.2020) — San Martín is full of oil men. This small, no-nonsense Colombian town in the department of Cesar, is hot, chaotic, and long accustomed to the presence of the petroleum industry. Ecopetrol, the state-owned oil company, is everywhere. Standing in the town center it is impossible not […]
Q&A: Ecopetrol Ready To Compete, Ready For Change
(Argus, 16.Dec.2020) — Colombia’s state-controlled Ecopetrol had been diversifying crude exports with a commitment to quality before the market tailspin of 2020. Now the company is preparing to boost crude imports and compete on its home turf. Commercial and marketing vice president Pedro Manrique shared Ecopetrol’s experience with Argus. Edited […]
Ecopetrol Eyes Capex of $3.5-$4bn In 2021
(Ecopetrol, 14.Dec.2020) — Ecopetrol S.A.’s Board of Directors approved the 2021 organic investment plan for the Ecopetrol Group (GE) for an estimated amount between $3.5bn and $4bn. HIGHLIGHTS – The investment plan approved by the Board of Directors is oriented towards restoring the Ecopetrol Business growth’s path, increasing competitiveness, strengthening […]
Fitch Affirms Ecopetrol’s Investment Grade Rating
(Ecopetrol, 1.Dec.2020) — Ecopetrol reports that rating agency, Fitch Ratings, has affirmed the company’s credit rating at BBB- with a negative outlook and its standalone credit profile (without incorporating government support) at bbb. In its statement, Fitch highlighted the company’s strategic importance for the country, its ability to maintain a […]
ANH Inks Three Deals In Third Cycle Nomination
(ANH, 1.Dec.2020) — Colombia’s National Hydrocarbons Agency – ANH signed 4 new contracts as a conclusion of the third cycle of the Continuous Area Nomination Process, PPAA. Parex Resources and CNE Oil & Gas were awarded four areas, with associated investments estimated at approximately $40mn. COMPANY AREA NAME MUNICIPALITY Parex […]
USO Requests Investigation Into Ecopetrol Refinery Fire
(Energy Analytics Institute, 27.Nov.2020) — The Obrera Oil Union (USO) requested an investigation into the causes of the fire that occurred at Ecopetrol’s refinery in Barrancabermeja, Santander, announced RCN RadioBucaramanga on 27 November 2020 in a Twitter post. __________ By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
Gustavo Petro Leads Early Polls In Colombia
(Energy Analytics Institute, 27.Nov.2020) — Presidential hopefully Gustavo Petro tops a recent opinion poll in Colombia, leading with 25.9% popularity in the Andean country. Colombians were surveyed by polling company Invamer and questioned about “which leader they would vote for if elections were today?” Leftist leaning Petro, leader of Colombia […]
Frontera Inks Deal To Resolve Transport Disputes
(Frontera, 17.Nov.2020) — Frontera Energy Corporation, Cenit Transporte y Logística de Hidrocarburos S.A.S. and Oleoducto Bicentenario de Colombia S.A.S. separately announced they have reached an agreement for the joint filing of a petition for a binding settlement which, upon completion and approval by the competent Colombian court, will resolve all […]
Colombia Bid Round To Investigate Fracking Projects
(Reuters, 11.Nov.2020) — Colombia will hold a second bidding round to potentially grant contracts to companies interested in exploring non-conventional oil and gas deposits, using techniques like fracking, the National Hydrocarbons Agency (ANH) said. Majority state-owned oil company Ecopetrol, Exxonmobil, and Drummond already have contracts for investigative projects and may […]
ANH Readies For Second Pilot Project Round
(Energy Analytics Institute, 10.Nov.2020) — Colombia’s National Hydrocarbons Agency will conduct a second round for the award of Special Research Project Contracts (CEPI by its Spanish acronym). “The purpose of the projects is to be able to acquire sufficient scientific information to make decisions on the technical use of hydraulic […]
Frontera Announces 3Q:20 Results
(Frontera, 4.Nov.2020) — Frontera Energy Corporation reported financial and operational results for the third quarter ended 30 September 2020. All financial amounts in this news release are in United States dollars, unless otherwise stated. During the third quarter, the company acquired control of Infrastructure Ventures Inc. (“IVI“), the parent company […]
UPME On Pacific Facility Investor Selection
(Energy Analytics Institute, 30.Oct.2020) — Colombia’s Mining and Energy Planning Unit (UPME) officially started the investor selection process for the Pacific Gas Import Infrastructure project, which will encompass LNG storage, regasification, natural gas transportation as well as associated services . Highlights: — The deal will be awarded before the end […]
Ecopetrol’s 3Q:20 Earnings Call Transcript
(Seeking Alpha, 28.Oct.2020) — Colombia’s Ecopetrol announced it 3Q:20 earnings results. The transcript from the earnings conference call on 28 October 2020 with analyst follows. Company Participants Felipe Bayón – Chief Executive Officer Alberto Consuegra – Chief Operating Officer Jaime Caballero – Chief Financial Officer Yeimy Baez – Gas Vice […]
Ecopetrol Reports Positive 3Q:20 Results
(Ecopetrol, 28.Oct.2020) — Ecopetrol S.A. announced the Ecopetrol Group’s financial results for the third quarter and the first nine months of 2020. Financial results were prepared in accordance with the International Financial Reporting Standards applicable in Colombia. *Ebitda adjusted to exclude the effect of the Voluntary Retirement Plan amounts to […]
ANH Says 16 Companies Qualified For 3rd PPAA
(Energy Analytics Institute, 23.Oct.2020) — Colombia’s National Hydrocarbon Agency or ANH published a definitive list of 16 companies qualified for the third cycle of its Permanent Area Assignment Process (PPAA). The ANH received 19 requests from companies interesting in qualifying, but settled on 16 that will be able to present […]
Frontera Reveals Details Of 3Q:20 Conference Call
(22.Oct.2020) — Frontera Energy Corporation will announce its third quarter results after the market closes on 4 November 2020 followed by a conference call with investors and analysts on 5 November at 8:00 a.m. (MST) and 10:00 a.m. (EST/GMT-5). Frontera participants will include Gabriel de Alba, Chairman of the Board […]
Ecopetrol Reveals Date Of 3Q:20 Earnings Report
(20.Oct.2020) — Bogotá-based Ecopetrol SA plans to release its financial and operating results for the third quarter 2020 on 27 October 2020 after the market close. Senior management will host two conferences on 28 October to review the results, the company announced 20 October in an official statement. Details of […]
Solar Panel Users In Colombia To Get Subsidies
(Energy Analytics Institute, 11.Oct.2020) — Colombian households located in areas not connected to the national interconnected energy system will be offered installation of solar panels with resources from the national government. The households will also receive a transitory subsidy of 86%, according to details revealed by Colombia’s Ministry of Mines […]