(Ecopetrol, 30.Jun.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) appointed Germán González Reyes as acting Vice President of Corporate Affairs and Secretary General, effective from 5 July 2023 and until the appointment of a new Vice President of Corporate Affairs and Secretary General. Germán González Reyes is a lawyer with a specialization in Socioeconomics from […]
Category: Colombia
Colombia energy
![Ecopetrol Issues $1.5bn in Bonds [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2020/08/ecopetrol-col-bogota.jpg)
Ecopetrol Issues $1.5bn in Bonds [PDF Download]
(Ecopetrol, 29.Jun.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced that, as part of its refinancing strategy and financing of the 2023 investment plan, it successfully placed External Public Debt Bonds in the international capital market, based on the authorization issued by the Ministry of Finance and Public Credit through Resolution 1592 of 28 June […]
Noria Energy Launches Urrá Floating Solar Project
(Noria Energy, 22.Jun.2023) — A new solar power system floating on the reservoir at Colombia’s Urrá Dam will demonstrate that hydroelectric dams dealing with fluctuating water levels can pair with floating solar generation to boost energy reliability and increase production. Noria Energy conceived and led development of the 1.5 MW solar project, which is […]
Ecopetrol Requests Disbursement of Financing Line
(Ecopetrol, 16.Jun.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, as part of its strategy of integral debt management and refinancing of the 2023 maturities, it requests the disbursement of the resources associated to the financing line for an amount of COP 1tn, contracted with Bancolombia, that was announced to the market on 17 March […]
Ecopetrol Informs Resignation of VP of Corporate Affairs
(Ecopetrol, 16.Jun.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that the Vice President of Corporate Affairs and General Secretary, MarĂa Paula Camacho Rozo, resigned from her position effective 5 July 2023, to assume a new professional challenge in another company. The company appreciates the management and achievements of Maria Paula during her 25 years of work […]
Ecopetrol on Arbitration Issued in Favor of Reficar
(Ecopetrol, 8.Jun.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that the International Chamber of Commerce decided in favor of RefinerĂa de Cartagena S.A.S (Reficar), a subsidiary company of Ecopetrol, in the framework of an arbitration proceeding against Chicago Bridge & Iron Company N.V., CB&I (UK) Limited and CBI Colombiana S.A. (collectively “CB&I”), […]
Colombia Needs New Oil Drilling, Former Finance Chief Says
(Bloomberg, 27.May.2023) — Colombia needs new oil exploration after a drop in the nation’s proven reserves as the government seeks to accelerate its energy transition, according to former Finance Minister Jose Antonio Ocampo. The Andean nation had proven crude reserves equivalent to 7.5 years of output as of the end […]
Ecopetrol Reaches Deal for new Collective Bargaining Agreement
(Ecopetrol, 23.May.2023 — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that on 22 May 2023, it reached an agreement with the UniĂłn Sindical Obrera (USO) for a new Collective Bargaining Agreement. The new Collective Bargaining Agreement will be retroactively effective from 1 January 2023, and will be valid for a four-year term. […]
![Interoil’s Production Report, April 2023 [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/02/Interoil-Exploration-and-Production-ASA.jpg)
Interoil’s Production Report, April 2023 [PDF Download]
(Interoil, 22.May.2023) — In March 2023, unfortunately Interoil’s average daily operated production decreased by 271 boepd where most of the lost production is related with operational issues in Argentina where the austral winter arrived sooner than expected.  Fortunately, Colombia community distress situation was solved, and operations are slowly recovering to its […]
Aris Mining Announces Results of Special Meeting
(Aris Mining, 11.May.2023) — Aris Mining Corporation (TSX: ARIS) (OTCQX: TPRFF) reports voting results from its annual general and special meeting of shareholders held earlier today. AGM Voting Results Shareholders holding 66,380,109 shares or 48.72% of the outstanding shares of the company were represented by proxy at the meeting. The voting results […]
Ecopetrol Gets Approval for Credit for up to $400mn
(Ecopetrol, 11.May.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, by means of Resolution 1114 of 10 May 2023, the Ministry of Finance and Public Credit authorized the execution of a credit agreement for up to $400mn, as part of its comprehensive debt management strategy. The loan will be subscribed with Banco […]
Frontera Reveals 1Q:23 Results
(Frontera, 3.May.2023) — Frontera Energy Corporation (TSX: FEC) reported financial and operational results for the first quarter ended March 31, 2023. 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’s first quarter results were in-line with […]
Ecopetrol on 1Q:23 Earnings Report, Conference Calls
(Ecopetrol, 2.May.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that on Tuesday, 9 May 2023, after market close, it will release its financial and operating results for the first quarter 2023. On Wednesday, 10 May 2023, Ecopetrol’s senior management will host two conference calls to review the results, one in Spanish and the […]
MPC Energy Solutions 1Q:23 Results Show Rise in Revenues and EBITDA
(MPC Energy, 27.Apr.2023) — MPC Energy Solutions (MPCES) announces its 1Q:23 results. The quarter was marked by several milestones including connecting three more projects to the power grid and signing long-term off-take agreements for new projects. Revenues and operating profits increased significantly compared to 1Q:22.  “The results of the […]
Ecopetrol’s New CEO Seeks to Boost Oil Output Amid Petro Restrictions
(Bloomberg, 25.Apr.2023) — Ecopetrol SA will invest in technology to boost output at oil fields it operates as the Colombian government sticks to a pledge to ban new drilling contracts, according to the company’s new Chief Executive Officer Ricardo Roa. Colombia’s state-controlled oil producer has some 85 exploration contracts of […]
Venezuela Seeks a Deal with Biden as Colombia Summit Begins
(NewsWeek, 25.Apr.2023) — As a multinational conference commences in Colombia, Venezuela is looking to make progress in talks not only with the country’s political opposition, but also the United States, three years after Washington backed efforts to oust President Nicolás Maduro, Newsweek has learned. This includes a proposed deal that could bring […]
![NatGas in Transition to Low-Carbon Economies [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2023/04/latam-white-paper-cover.png)
NatGas in Transition to Low-Carbon Economies [PDF Download]
(IGU, OLADE, ARPEL, 17.Apr.2023) — The world needs to transition to low-carbon economies to reduce global warming while continuing to promote sustainable socioeconomic development for a growing global population. Achieving this massive goal requires a radical transformation in how energy is supplied and used worldwide, as 73% of global greenhouse […]
Biden to Discuss Venezuela Sanctions with Colombia’s Petro
(Reuters, 19.Apr.2023) — President Joe Biden will discuss Venezuela in wide-ranging talks with Colombian President Gustavo Petro on Thursday, including U.S. willingness to further ease sanctions on the OPEC nation only in return for concrete steps toward free elections there, a senior administration official said. Previewing the leaders’ first meeting, […]
Frontera on 1Q:23 Results and Webcast Dates
(Frontera, 19.Apr.2023) — Frontera Energy Corporation (TSX: FEC) announces that its first quarter 2023 results will be released after markets close on Wednesday 3 May 2023. A conference call for investors and analysts will be held on Thursday, 4 May 2023 at 11 a.m. Eastern Time. Participants will include Gabriel de Alba, Chairman of the […]
Sintana Updates on VMM-37 Joint Contract with ExxonMobil
(Sintana Energy, 18.Apr.2023) — Sintana Energy Inc. (TSXV: SEI OTCQB: SEUSF) reports that ExxonMobil sent Patriot Energy Oil and Gas Inc., a subsidiary of the company, a notice stating that, based on the terms of the Joint Operating Agreement between ExxonMobil and Patriot (the “JOA”), it had decided to withdraw […]
Ecopetrol BODs Names Ricardo Roa Barragán New Chairman of Ecopetrol
(Ecopetrol, 11.Apr.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that its Board of Directors, in session on 11 April 2023, appointed Ricardo Roa Barragán as CEO of Ecopetrol, who will take office no later than 30 April 2023. The evaluation and selection process of candidates was carried out with the support […]
![Global Gas Flaring Tracker Report [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2023/04/us-flaring-2023-source-the-world-bank.png)
Global Gas Flaring Tracker Report [PDF Download]
(The World Bank, 31.Mar.2023) — After a decade of little progress, global gas flaring volumes fell by around 3% in 2022. However, despite this welcome reduction, greater and sustained efforts are needed to end this wasteful and polluting practice. The growing sense of urgency in tackling global gas flaring is […]
Frontera Refinances Existing Puerto BahĂa Debt, Enters Into Credit Agreement
(Frontera, 27.Mar.2023) — Frontera Energy Corporation (TSX: FEC) announces that Frontera’s wholly-owned subsidiary, Pipeline Investment Limited (PIL), which owns a 35% equity interest in Oleoducto de los Llanos Orientales S.A. (ODL), and Macquarie Group (the “Lender”) have entered into a credit agreement through which the Lender will provide a $120mn loan […]
Ecopetrol Names Alberto Consuegra Granger as Interim CEO
(Ecopetrol, 24.Mar.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that on 24 March 2023, its Board of Directors appointed Alberto Consuegra Granger as interim CEO of Ecopetrol S.A. effective from 1 April 2023, and until the date on which the successor to Felipe BayĂłn Pardo, who will lead the company until 31 […]
Ecopetrol Not Advancing Plans to Buy MonĂłmeros Colombo Venezolanos S.A.
(Ecopetrol, 24.Mar.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, with regards to statements in the public media about a possible acquisition by Ecopetrol of the company MonĂłmeros Colombo Venezolanos S.A., Ecopetrol warns the public that, within the framework of its 2040 strategy and business plan announced to the market, it […]
Ecopetrol Obtains Authorization to Borrow One Trillion Pesos from Bancolombia
(Ecopetrol, 17.Mar.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, as part of its integral debt management strategy and the refinancing of the debt maturing on 2023, through Resolution 0655 of 16 March 2023, it received the authorization of the Ministry of Finance and Public Credit to enter into a one […]
Interoil Releases Feb. 2023 Production Report
(Interoil, 13.Mar.2023) — In February 2023, Interoil’s average daily operated production increased by 573 boepd recovering most of the lost production from previous months. During February the production growth is explained by the recovering of shut-in wells in Argentina whilst Colombia’s production still faces community’s issues causing the mobilization of […]
Ecopetrol’s 2022 Earnings Distribution Proposal
(Ecopetrol, 28.Feb.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) hereby informs of the company’s 2022 earnings distribution proposal, approved by the company’s Board of Directors, which will be submitted for the consideration of the General Shareholders’ Meeting that will take place on 30 March 2023: 2022 EARNINGS DISTRIBUTION PROPOSAL (Colombian Pesos- COP) Net income […]
Ecopetrol Reports Strong 4Q:22 Results [PDF Downloads]
(Ecopetrol, 28.Feb.2023) — During 2022, the Ecopetrol Group continued delivering record operating and financial results and above the targets set at the beginning of the year. This, together with environmental, social and governance actions consistent with best industry practices and standards, and in line with our commitment to generate sustainable […]
AES Delivers on All 2022 Financial and Strategic Objectives
(AES, 27.Feb.2023) — The AES Corporation (NYSE: AES) today reported financial results for the year ended 31 December 2022. “2022 was another record year for AES, one in which we delivered on all of our financial and strategic objectives. We continue to see massive growth in our renewables business, and in 2022, […]
Ecopetrol Boosts Reserves to 2,011 MMboe at YE:22, Highest in 8 Years
(Ecopetrol, 24.Feb.2023) — Ecopetrol S.A. (BVC: ECOPETROL, NYSE: EC) reported its proven crude oil, condensate, and natural gas reserves (1P reserves according to the standard international denomination), which include the results of Ecopetrol and its subsidiaries, as of 31 December 2022. Highlights: The reserves-to-production or average reserves life of the Ecopetrol Group […]
Ecopetrol Publishes Measures Ahead of General Shareholders’ Meeting
(Ecopetrol, 24.Feb.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that to comply with the provisions of Part III Title I Chapter VI of the Basic Legal Circular issued by the Financial Superintendence of Colombia (E.C. 029 of 2014), the Board of Directors of Ecopetrol approved the implementation of the measures described below which […]
Ecopetrol on General Shareholders’ Meeting
(Ecopetrol, 24.Feb.2023) — The Chief Executive Officer of Ecopetrol S.A. hereby summons all Shareholders to the ordinary Assembly of the General Shareholders’ Meeting to be held on Thursday, 30 March 2023, starting at 9 a.m., at the Centro Internacional de Negocios y Exposiciones (Corferias), located on Carrera 37 No. 24 – 67 in Bogota, D.C The Agenda for the meeting will be the Safety guidelines […]
Frontera Announces 2022 Year End Reserves
(Frontera, 22.Feb.2023 — Frontera Energy Corporation (TSX: FEC) today 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. All of the company’s booked reserves for the year […]
Ecopetrol to Host 4Q:22 and Year End Webcast
(Ecopetrol, 22.Feb.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that on Tuesday, 28 February 2023, after market close, it will release its financial and operating results for the fourth quarter and full year 2022. On Wednesday, 1 March 2023, Ecopetrol’s senior management will host two conference calls to review the results, one in Spanish […]
Frontera Provides Notice of 4Q:22 Financial Results, Conference Call
(Frontera, 15.Feb.2023) — Frontera Energy Corporation (TSX: FEC) announced that its fourth quarter 2022 results will be released after markets close on Wednesday, 1 March 2023. A conference call for investors and analysts will be held on Thursday, 2 March 2023, at 1 p.m. Eastern Time. Participants will include Gabriel de Alba, Chairman of […]
Frontera Resumes Operations at Quifa And CPE-6 Blocks
(Frontera, 8.Feb.2023) — Frontera Energy Corporation (TSX: FEC) announces that all blockades on the road from Puerto Gaitán to the Rubiales village in the municipality of Puerto Gaitan, Meta Department, Colombia, have been lifted. The company has resumed transporting on-site inventory, rotating crews and delivering supplies to its Quifa and CPE-6 operations. […]
Petrobras on 4Q:22 Results, Webcasts
(Petrobras, 6.Feb.2023) — Petrobras will release its 4Q:22 Production and Sales Report on 8 February 2023 and its 4Q:22 Financial Performance Report on 1 March 2023, both after the markets close. On 2 March 2023, two webcasts will be held, the first in Portuguese and the second in English, to […]
Ecopetrol, Frontera, Hocol, Tecpetrol and Cepsa on Blockades In Meta, Colombia
(Frontera, 6.Feb.2023) — Frontera Energy Corporation (TSX: FEC), Ecopetrol, Hocol, Tecpetrol and Cepsa, hydrocarbon companies that operate in Puerto Gaitán (Meta Department), express their deep concern about the serious social and economic consequences resulting from the blockade of the road that leads from Puerto Gaitán to the Rubiales village, which […]
Frontera Announces 2023 Capital And Production Guidance
(Frontera, 1.Feb.2023) — Frontera Energy Corporation (TSX: FEC) announces its full year 2023 capital and production guidance and provides an update on its normal course issuer bid (“NCIB“), its 2023 hedging program and its estimated fourth quarter and 2022 full year average daily production. All values in this news release […]
EAI’s NRGBriefs: Jan. 2023
(Energy Analytics Institute, 31.Jan.2023) — Energy briefs as well as others related to finance and politics during January 2023 including Trinidad and Tobago Prime Minister Dr. Hon. Keith Rowley said during the Trinidad and Tobago Energy Conference (TTEC) in Port of Spain that “in this uncertain global environment, energy is […]
Frontera Included in the 2023 Bloomberg Gender Equality Index GEI
(Frontera, 31.Jan.2023) — Frontera Energy Corporation (TSX: FEC) announces that it joins 483 other companies as a member of the 2023 Bloomberg Gender-Equality Index (“GEI”), a modified market capitalization-weighted index developed to gauge the performance of public companies dedicated to reporting gender-related data. This reference index measures gender equality across […]
Felipe BayĂłn to head Ecopetrol until 31 Mar. 2023
(Ecopetrol, 27.Jan.2023) — Ecopetrol S.A. informs that Felipe BayĂłn Pardo will lead the company as CEO until 31 Mar. 2023. The Board of Directors recognized Felipe BayĂłn Pardo’s achievements during his leadership as CEO of Ecopetrol since Sep. 2017. Under his tenure, the company achieved excellent operating and financial results […]
Ecopetrol Launches Tender Offer for its 5.875% Notes Due 2023
(Ecopetrol, 17.Jan.2023) — Ecopetrol S.A. commenced a tender offer for cash (the “Offer“) to purchase up to U.S.$1,000,000,000 in aggregate principal amount (the “Maximum Tender Amount“) of its outstanding 5.875% Senior Notes due 2023 (CUSIP: 279158 AC3 / ISIN: US279158AC30 (the “Notes“). The Offer is being made pursuant to Ecopetrol’s Offer […]
Ecopetrol Informs Petition on the Collective Bargaining Agreement
(Ecopetrol, 30.Dec.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that company’s coexisting unions filed a petition on the current Collective Bargaining Agreement. Ecopetrol also filed today a partial petition before the Ministry of Labor. The company’s current Collective Bargaining Agreement, covering Ecopetrol’s direct workers, was initially signed in 2018 for a […]
Ecopetrol Group to Accelerate Energy Transition, Energy Security
(Ecopetrol, 9.Dec.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that its Board of Directors approved the 2023 general organic investment plan for the Ecopetrol Group for an estimated amount between COP 25.3tn and COP 29.8tn. Individual investment projects will be evaluated in due course by the Board of Directors according to their materiality. The […]
Clara Liliana Guatame Aponte Takes the Helm at Colombia’s ANH
(Energy Analytics Institute, 7.Dec.2022) — Colombia’s Minister of Mines and Energy Irene VĂ©lez Torres welcomed Clara Liliana Guatame Aponte as the new president of the National Hydrocarbons Agency (ANH). The act took place in Bogotá on 7 December 2022, the ANH announced on a statement on its website. ____________________ By […]
Energy Analytics Institute’s NRGBriefs: November 2022
(Energy Analytics Institute, 30.Nov.2022) — Energy briefs as well as others related to finance and politics during November 2022 including Brazilian oil giant Petrobras launching its strategic plan for 2023-27; US Secretary of State Antony Blinken welcoming resumption of Venezuelan-led negotiations in Mexico City between the ruling party and opposition […]
Interoil Releases 3Q:22 Details
(Interoil, 29.Nov.2022) — In July 2022 Interoil Exploration and Production ASA successfully closed its share offering. The final number of shares that were subscribed and issued in the Share Issue is 14,357,554 at a subscription price of NOK 1.30 per share, resulting in gross proceeds of approximately NOK 18.7mn. Gross […]
Fitch Ratings Maintains Ecopetrol’s Rating at BB+, with a Stable Outlook
(Ecopetrol, 18.Nov.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that the rating agency Fitch Ratings maintained the company’s credit rating at “BB+”, with a stable outlook, and the company’s individual credit rating (Stand-Alone, excluding the Government’s support) at “bbb”. The rating agency highlighted Ecopetrol’s liquidity profile, which is supported by cash […]