PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 25.Feb.2025) — Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) and Banco BTG Pactual S.A. – Cayman Branch closed a syndicated committed credit facility for GeoPark Colombia SAS, a subsidiary of Canada-based GeoPark Limited. At year-end 2024, Bladex and BTG Pactual led the […]
Category: Colombia
Colombia energy
Ecopetrol to Guarantee Adequate Representation at 28 Mar. 2025 Shareholder Meeting
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 21.Feb.2025) — The Board of Directors of Ecopetrol SA approved implementation of measures aimed at guaranteeing the adequate representation of shareholders at the ordinary general shareholder’s meeting to be held on 28 Mar. 2025. The measures comply with the provisions of Part […]
Ecopetrol Reports 104% Reserves Replacement in 2024, Average Reserve Life of 7.6 Years
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 20.Feb.2025) — Bogotá-based Ecopetrol SA boosted its net proven crude oil, natural gas and condensates reserves (1P reserves) to 1,893 million barrels of oil equivalent (MMboe) at year end 2024, up 10 MMboe compared to 2023. The company’s reserve replacement ratio was […]
Ecopetrol to Host 4Q:24 Webcast on 5 Mar. 2025
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 18.Feb.2025) — Ecopetrol S.A. plans to release its financial and operating results for the fourth-quarter 2024 and full year of 2024 after market close on 4 Mar. 2025. On 5 Mar. 2025, Ecopetrol’s senior management will host a single virtual conference call to […]
Ecopetrol Closes Purchase of Repsol’s 45% Interest in Block CPO-09 for $452mn
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 5.Feb.2025) — Ecopetrol S.A. successfully completed the transaction with Repsol Colombia Oil & Gas Limited to purchase the remaining 45% of its participation in the CPO-09 Block. The total consideration was for $452mn, making Ecopetrol an 100% holder of the participation interest in the […]
Colombia’s Petro Calls for Sale of Ecopetrol Fracking Operations in US
BOGOTA, COLOMBIA (Luis Jaime Acosta, Reuters, 4.Feb.2025) — Colombian President Gustavo Petro on Tuesday called for the sale of state oil firm Ecopetrol‘s fracking operations in the United States to invest in clean energy. The leftist leader’s request was made to his minister of mines and energy, Andres Camacho, in an unusual […]
Petrobras reported natural gas sales of 50 MMcm/d in 2024
BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 3.Feb.2025) — Petrobras reported average natural gas sales of 47 million cubic meters per day (MMcm/d) in 2024, down 2 MMcm/d compared to 49 MMcm/d in 2023, mainly owing to a growing participation of other agents in the market and lower demand […]
Ecopetrol Board Approves Senior Management Changes
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 1.Feb.2025) — The Board of Directors of Ecopetrol S.A. approved adjustments to its organizational structure on 31 Jan. 2025. The changes aim to strengthen the management of its business lines, maintain competitive returns and segregate activities related to management from those related to […]
NRGBriefs Jan. 2025: Golden Pass LNG, Chevron CEO on Argentina growth
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Jan.2025) — Energy briefs as well as others related to finance, economics, politics, and projects during Jan. 2025 including Venezuela Edmundo González Urrutia planning to tour Argentina, Uruguay, Panama, the US, and the Dominican Republic before his proposed return to Venezuela on or […]
GeoPark Reveals Tender Results for its 5.5% Senior Notes due 2027
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 28.Jan.2025) — GeoPark Limited revealed tender results in connection with its offer to purchase for cash any and all of its outstanding 5.500% senior notes due 2027. The tender offer was made upon the terms and subject to the conditions set forth in […]
Frontera Completes Additional Substantial Issuer Bid
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 28.Jan.2025) — Frontera Energy Corporation has taken up and paid for 3,500,000 of its outstanding common shares at a price of CDN$12 per share. This is under an additional substantial issuer bid pursuant to which Frontera offered to purchase from shareholders for cancellation […]
Colombian President Celebrates PV Project Exclusively Powered by JA Solar
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 26.Jan.2025) — Colombia’s President Gustavo Petro attended a ceremony at a state-owned Ecopetrol‘s refinery in Cartagena. There, he personally signed a JA Solar module commemorating the successful completion of a groundbreaking PV project. This marks the first PV power plant built at an oil […]
Nature’s Miracle Inks Order for Up to 2,000 EVs in Colombia
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 23.Jan.2025) — Nature’s Miracle Holding Inc. announced the receipt of a purchase order from the National Transport Chamber of Colombia to introduce electric vehicles in the Colombian market. The purchase order, facilitated by Ricardo Virviescas, President of the country of Colombia’s National Transport […]
Bladex and Finanzauto Close ESG Loan for $53mn and COP60,000mn Respectively
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 22.Jan.2025) — Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) successfully closed a US dollar and Colombian peso syndicated loan for $53mn and COP60,000mn, respectively, for Finanzauto S.A. BIC, a Colombian automotive finance company with a strong commitment to sustainable economic development. The […]
Reficar Ends Long Legal Process with Chicago Bridge & Iron Company N.V.
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 16.Jan.2025) — RefinerĂa de Cartagena S.A.S. (Reficar) was notified of a decision issued by the Court of the Southern District of New York, which ended a long legal process with Chicago Bridge & Iron Company N.V., CB&I UK Limited. The decision denies […]
Ecopetrol Reveals Changes in Senior Management
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 16.Jan.2025) — Ecopetrol S.A. announced the following changes will be made in its senior management: — Walter Fabián Canova, who has been serving as Vice President of Refining and Industrial Processes, will perform his duties until 15 Jan. 2025 and will terminate […]
Ecopetrol to Temporarily Reduce Conversion Cost of Purchase and Sale ADRs by 50%
(Piero Stewart, Energy Analytics Institute, 15.Jan.2025) — Bogota-based Ecopetrol reached an agreement with JPMorgan Chase Bank N.A., the depositary bank of its American Depositary Receipts (ADR) program, to reduce 50% of the conversion cost for the purchase and sale of ADRs in the US. The measure is temporary and is […]
EAI’s NRGBriefs Dec. 2024: Exxon Guyana, Venture Global IPO, Rio Tingo Argentina
HOUSTON, TEXAS (Energy Analytics Institute, 31.Dec.2024) — Energy briefs as well as others related to finance and projects during Dec. 2024 including Venture Global filing for IPO; Rio Tinto approving $2.5bn to expand the Rincon project in Argentina; ExxonMobil, with the announcement of the Hammerhead and Longtail projects offshore Guyana, […]
Ecopetrol Closes Deal with Repsol for 45% Interest in Colombia’s CPO-9 Block
(Piero Stewart, Energy Analytics Institute, 29.Dec.2024) — Colombia’s state-owned Ecopetrol successfully concluded negotiations with Spain’s Repsol to acquire the remaining 45% of its interest in the CPO-9 block, located in the Meta department. With this transaction, Ecopetrol becomes the 100% owner of this strategic asset in the Piedmonte Llanero, Ecopetrol […]
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EAI Andean NRG dashboard 4Q:24 [pdf download]
HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 28.Dec.2024, Words: 60) — Energy Analytics Institute‘s Andean NRG Dashboard 4Q:24 with upstream, downstream, midstream, LNG, renewable, new energies and other updates from Colombia, Ecuador, Guyana, Peru, Suriname, Venezuela, Trinidad and Tobago and the Caribbean. ____________________ By Editors at Energy Analytics Institute. […]
Turmoil at Colombia’s Ecopetrol Raises Profit Fears Ahead of US Investment Decision
(REUTERS, 20.Dec.2024) — Alleged interference by Colombian President Gustavo Petro in majority state-owned Ecopetrol and purges of hundreds of staff to make way for pro-government replacements are fueling fears about the energy company’s future profits and contributions to the economy. The worries, according to interviews with workers, ex-employees, a former […]
Sheinbaum Says Southward Extension of North American Trade Deal Necessary
(Fidencio Casillas, Energy Analytics Institute, 17.Dec.2024) — Mexico’s president Claudia Sheinbaum Pardo said unity between her country and other progressive countries in Latin America was important as well as an extension of trade deals between North America and the rest of the American continent. Sheinbaum, speaking 17 Dec. 2024 during […]
Frontera Reveals Second Issuer Bid Valued at $30mn
(Energy Analytics Institute, 16.Dec.2024) — The Board of Directors of Frontera Energy Corporation approved the commencement of  a second substantial issuer bid pursuant to which the company will offer to purchase from holders of common shares of the company up to 3,500,000 Shares for cancellation at a purchase price of […]
Ecopetrol Names Senior Management and Legal Representative
(Energy Analytics Institute, 16.Dec.2024) — Ecopetrol S.A. announces that Germán González Reyes, who has been serving as Secretary General since 29 Sep. 2023 and Acting Director of Institutional Relations and Communications since 28 Jun. 2024, will perform his duties until 17 Jan. 2025. Ecopetrol thanks Germán González for his seven […]
Petrobras and Ecopetrol confirm 6 Tcf of gas at Sirius-2
(Piero Stewart, Energy Analytics Institute, 5.Dec.2024) — Brazil’s state-owned Petrobras, through its wholly-owned subsidiary Petrobras International Braspetro B.V. – Colombia Branch (PIB-COL), and Colombia’s state-owned Ecopetrol confirmed the largest gas discovery in the history of Colombia with the drilling of the Sirius-2 well. With the evaluation of the Sirius-2 well […]
LatAm NRG Matters: Highlights, Heard for the Week Ended 29 Nov. 2024
(Energy Analytics Institute, 29.Nov.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 29 Nov. 2024. —Argentina: YPF has put Metrogas up on the auction blk, various local media outlets in Argentina report. —Argentina: YPF plans to merge its Argentina LNG project w/ rival’s venture, […]
GeoPark Limited to Pay $530mn for Repsol’s E&P Assets in Colombia
(GeoPark, 29.Nov.2024) — GeoPark Limited signed sale and purchase agreements (SPAs) with Repsol ExploraciĂłn S.A. and Repsol E&P S.A.R.L (collectively referred to as Repsol) to acquire Repsol’s upstream oil and gas assets in Colombia. The SPAs include the acquisition of 100% of Repsol Colombia O&G Limited, which owns a 45% […]
Ecopetrol Eyes Investing 24tn-28tn Pesos in 2025
(Ecopetrol, 29.Nov.2024) — Ecopetrol S.A. announces that the Board of Directors approved the annual investment budget of the Ecopetrol Group for 2025 for an amount between 24tn and 28tn Colombian pesos, in line with the strategy, this annual budget increases investment levels compared to 2024, under capital discipline criteria and […]
Race for LatAm offshore wind energy starting: Brazil, Chile, Colombia, and Uruguay
BOGOTA, COLOMBIA (By Margarita Nieves-Zárate, Energy Analytics Institute, 26.Nov.2024, Words: 1,083) — The race for offshore wind energy in Latin America is just starting. According to the Global Wind Energy Council (GWEC), Latin America has significant potential for wind energy growth, driven by rising energy demands and a commitment to […]
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Ecopetrol Presents Climate Change Report [PDF Downloads]
(Ecopetrol, 20.Nov.2024) — Ecopetrol S.A. published its fourth TCFD report covering developments from 2023 and the first-half 2024. The report highlights progress in strengthening climate-related risk and opportunity management processes through discussions on Governance, Strategy, Risks and Metrics and Targets. Consistent with international best practices, the Ecopetrol report was published […]
Ecopetrol Eyes Greater Gas Availability for Dec. 2024
(Energy Analytics Institute, 14.Nov.2024) — Bogotá-based Ecopetrol continues with efforts aimed at delivering natural gas to the Colombian market. To this end, the state-owned company plans to offer a firm 18 GBTUD of gas in additional to the 16 GBTUD announced last week, for a total of 34 GBTUD, the company […]
Colombian Gov’t Eager for Post-fossil Fuels Economy. But Costs are a Barrier
BOGOTA, COLOMBIA (AP, 14.Nov.2024) — Colombia’s fiery left-wing President Gustavo Petro is one of the biggest opponents of fossil fuels on the world stage today, with speeches that lump oil and coal with cocaine as his country’s “three poisons.” He’s set a goal of weaning Colombia off those fossil fuels, […]
Ecopetrol Reveals 3Q:24 Results (PDF Downloads)
(Ecopetrol, 12.Nov.2024) — For the nine months of 2024 (9M24), the Ecopetrol Group has proved once again its ability to overcome challenges and turn them into opportunities through determination and resilience. Despite a defiant global environment, marked by fluctuations in international oil prices and adjustments in global supply and demand, […]
GeoPark and Hocol Confirm Finds, Exploration Progress in Llanos Basin Blocks
(GeoPark, 12.Nov.2024) — GeoPark announces the achievements made in 2024 together with its partner Hocol, a subsidiary of the Ecopetrol Group, in the joint exploration of the Llanos 86, Llanos 87, Llanos 104, Llanos 124 and Llanos 123 blocks in the Llanos basin, Colombia. Llanos 123 Block discoveries and delimitation […]
LatAm NRG Matters: Highlights, Heard for the Week Ended 8 Nov. 2024
(Energy Analytics Institute, 8.Nov.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 8 Nov. 2024. —Argentina: YPF execs. met in Buenos Aires w/ the Chancellor of Hungry to discuss the Argentina LNG project. —Ecuador: Ecuador is looking to acquire 195MW from private cos. in […]
Fitch Maintains Ecopetrol’s Overall Credit Rating at BB+
(Energy Analytics Institute, 8.Nov.2024) — Fitch Ratings on 6 Nov. 2024 revealed that its was maintaining its global credit rating for Ecopetrol at BB+ with a stable outlook. However, Fitch, in a report on Ecopetrol and Colombia, downgraded the Standalone Credit Profile (“SCP”) from ‘bbb’ to ‘bbb-‘ while it affirmed the national long-term and short-term ratings of Ecopetrol at ‘AAA […]
Frontera Reports 3Q:24 Results, Updates on LatAm Portfolio (PDF Download)
(Frontera, 6.Nov.2024) — Frontera Energy Corporation reported financial and operational results for the third quarter ended 30 Sep. 2024. All financial amounts in this news release are in United States dollars, unless otherwise stated. Gabriel de Alba, Chairman of the Board of Directors, commented: “Frontera remains focused on the execution […]
LatAm NRG matters: highlights, heard from Pampa Energia to Ecopetrol and Petrobras
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 1.Nov.2024, Words: 489) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 1 Nov. 2024. —Argentina: Citigroup downgraded Pampa Energia to neutral from buy, adjusted its price target to $75/shr v $58/shr; Citigroup also upgraded YPF to buy […]
Ecopetrol and Petrobras to continue exploration offshore Colombia
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 31.Oct.2024, Words: 219) — Colombia’s state-owned Ecopetrol S.A. said the Santa Marta Tribunal issued a favorable decision regarding an appeal against the claim (acciĂłn de tutela) filed by the Indigenous Council of Taganga. This new ruling allows Ecopetrol and its Brazilian counterpart […]
Ecopetrol Announces Full Redemption of its Notes due 2026
(Ecopetrol, 29.Oct.2024) — Ecopetrol S.A. will redeem the outstanding balance of its 5.375% notes maturing in Jun. 2026 (CUSIP: 279158 AL3 / ISIN: US279158AL39) (the “2026 Notes”), which were issued in 2015. The outstanding balance of the 2026 Notes is $447,168,000. The expected redemption date of the 2026 Notes is […]
LatAm NRG Matters: Highlights, Heard for the Week Ended 25 Oct. 2024
(Energy Analytics Institute, 25.Oct.2024) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 25 Oct. 2024. —Argentina: Oil production reached 740.8 Mb/d in Sep. 2024, up 14.7% y-o-y, while gas production reached 147.1 MMcm/d, up 2.9% y-o-y, the Secretariat of Energy said. —Argentina: Argentine gas […]
CAF and O.N.E. Amazon to Promote Amazon Conservation
(O.N.E. Amazon, 25.Oct.2024) — In the context of COP16 in Cali, CAF and O.N.E. Amazon have joined forces to protect and conserve the Amazon rainforest, one of the most crucial and biodiverse natural ecosystems on the planet. The agreement establishes a framework for collaboration on an instrument that transforms the […]
Aris Mining Prices $450mn Senior Notes Offering
(Energy Analytics Institute, 24.Oct.2024) — Aris Mining Corporation priced its offering of 8.000% Senior Notes due 2029. The offering, which was for $450mn, is expected to close on or about 31 Oct. 2024, said Aris, a gold miner in the Americas, in an official statement posted on its website on […]
Ecopetrol Appoints Carlos Mauricio Avila Saldarriaga as VP
(Ecopetrol, 18.Oct.2024) — Ecopetrol S.A. revealed the following senior management appointments, which were made effective as of 16 Oct. 2024: Carlos Mauricio Avila Saldarriaga was appointed as Vice President of Subsidiaries and Assets with Partners. Carlos is a Petroleum Engineer from Universidad AmĂ©rica, with further education in finance, project management […]
IEA: Colombia 3Q:24 Gas Market Report Update
(International Energy Agency, 18.Oct.2024) —  In Colombia in Jan. 2024 the government declared a national disaster situation for a period of 12 months due to the impact of the El Niño weather phenomenon, which brought extreme drought and sizzling heatwaves. While Colombia’s hydropower output decreased by over 25% y-o-y from […]
Ecopetrol to Liquidate Ecopetrol Energia S.A.S E.S.P.
(Energy Analytics Institute, 10.Oct.2024) — Shareholders of Ecopetrol Energia S.A.S E.S.P. voted with an 100% affirmative vote to authorize its liquidator, Christian Schneider Jaramillo, to carry out all the necessary steps for the due liquidation of this company. Ecopetrol Energia, which was responsible for the commercialization of energy, cancelled its […]
Ecopetrol Commences Cash Tender Offer for 5.375% Notes
(Ecopetrol, 8.Oct.2024) — Ecopetrol S.A. announced commencement of a cash tender offer (the “Offer”), to purchase any and all of its outstanding 5.375% Notes due 2026 (the “Securities”), upon the terms and subject to the conditions set forth in Ecopetrol’s Offer to Purchase, dated 8 Oct. 2024 (as the same […]
GeoPark Announces 3Q:24 Operational Update
(GeoPark, 9.Oct.2024) — GeoPark Limited announces its operational update for the three-month period ended 30 Sep. 2024 (“3Q:24”). Oil and Gas Production and Operations Llanos 34 Block: Secondary Recovery Continues CPO-5 Block: Production Remains Close to Record Levels Argentina: Mata Mora Norte Block in the Vaca Muerta Top 10 Llanos […]
Ecopetrol Says Importation of Venezuela Gas Viable
(Energy Analytics Institute, 4.Oct.2024) — Ecopetrol SA president Ricardo Roa has analyzed the natural gas deficit in Colombia and stressed that the reactivation of Venezuelan gas imports could be a feasible solution, as long as Repsol SA provides the supply. During the VII Oil, Gas and Energy Summit, Roa mentioned […]
LatAmNRG matters, highlights, heard: Argentina LNG, $7.3bn Amber-Citgo deal
HOUSTON, TEXAS (By editors at Energy Analytics Institute, 4.Oct.2024, Words: 423) — LatAm NRG highlights, headlines and “heard on the street,” for the week ended 4 Oct. 2024. LATIN AMERICA —Argentina: Malaysian energy giant Petronas, which has generated a ton of noise in recent wks about its rumored departure from […]