(Simón Bolívar Foundation Inc., 17.Nov.2022) — Simón Bolívar Foundation Inc., the 501(c)(3) nonprofit private foundation of Citgo Petroleum Corporation, is awarding up to $1.68mn in grant funding to seven qualified charitable organizations as part of its Colombia-Ecuador-Peru Humanitarian Health Grants program. The call for grant applications for this charitable program, recognizing the vulnerable […]
Category: Colombia
Colombia energy
Ecopetrol Announces Creation of Ecopetrol US Trading LLC
(Ecopetrol, 16.Nov.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has completed the formal process for establishing a new subsidiary, Ecopetrol US Trading LLC, domiciled in Delaware, USA. The main focus of the new subsidiary is the international marketing of refined, petrochemical and industrial products as well as crude oil and natural gas […]
Frontera to Host Investor Open House on 15 Nov. 2022
(Frontera, 15.Nov.2022) — Frontera Energy Corporation (TSX: FEC) will host an Investor Open House for analysts, investors, shareholders and bondholders today from 9:30 a.m. to 5:00 p.m. Col time, Frontera at its office at Calle 110 N° 9 – 25 Piso 16, Bogotá, Colombia. Members of Frontera’s executive team will provide in-depth presentations and […]
Ecopetrol S.A.’s 3Q:22 Earnings Call Transcript
(Seeking Alpha, 9.Nov.2022) — Ecopetrol S.A.’s (NYSE:EC) third quarter of 2022 earnings conference call on 9 November 2022 follows including the question & answer session with analysts. Company Participants Felipe Bayon – Chief Executive Officer Yeimy Baez – Vice President of Low Emission Solutions Alberto Consuegra – Chief Operating Officer […]
![Ecopetrol Reports Strong 3Q:22 Results [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2020/02/bayon-felipe-ecopetrol-colombia-latamnrg.jpg)
Ecopetrol Reports Strong 3Q:22 Results [PDF Downloads]
(Ecopetrol, 8.Nov.2022) — Ecopetrol Group figures for September 2022 undoubtedly indicate an outstanding operating and commercial performance that supports our historical financial results. During the first nine months of 2022, the company reached pre-pandemic production levels and obtained net income of COP 26.6tn. These achievements are the result of: i) […]
Colombia Congress Passes Petro Tax Hikes on Oil and the Rich
(Bloomberg, 3.Nov.2022) — Colombia’s president Gustavo Petro chalked up his first big victory in congress with the approval of ambitious tax rises on fossil fuels and the rich. Lawmakers passed a package of taxes Thursday that comes into force from Jan. 1 and that the government expects to generate additional […]
Ecopetrol’s Board of Directors Appointment
(Ecopetrol, 24.Oct.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that at the extraordinary General Shareholder’s Meeting held on 24 October 2022, its Board of Directors was appointed as follows: Non-Independent Representatives: Mónica de Greiff Lindo Gonzalo Hernández Jiménez Independent Representatives: Gabriel Mauricio Cabrera Galvis Carlos Gustavo Cano Sanz Saúl Kattan Cohen Sandra […]
Interoil Releases Sep. 2022 Production Report (Argentina / Colombia)
(InterOil, 14.Oct.2022) — In September 2022, the average daily operated production from fields in Argentina and Colombia combined increased by 32 boepd representing one percent against the month of August. Most of this increment comes from the Argentina operation, +71 boepd, whereas the Colombia operation decreased by 40 boepd as […]
Ecopetrol and Citgo Transaction to Offset Carbon
(Citgo, 10.Oct.2022) — A carbon compensated crude oil cargo sold by Ecopetrol and purchased by Citgo Petroleum Corporation is currently making its way to the Citgo Corpus Christi refinery for processing. The recent transaction supports Ecopetrol’s objectives on energy transition and decarbonization. The 500,000 barrel cargo of Ecopetrol Castilla Blend® […]
Ecopetrol’s Extraordinary General Shareholder’s Meeting (24 Oct. 2022)
(Ecopetrol, 7.Oct.2022) — The Chief Executive Officer of Ecopetrol S.A. invites the Shareholders of the Company to attend the Extraordinary General Shareholders’ Meeting to be held on Monday 24 October 2022, starting at 8 a.m., at the International Business and Exhibition Center Auditorium (CORFERIAS) located at Carrera 37 No. 24 […]
Ecopetrol Presents Second Report on Climate Change Management
(Ecopetrol, 23.Sep.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) published its second TCFD report as of 2021, which highlights progress in strengthening climate-related risk and opportunity management processes through discussions on Governance, Strategy, Risks and Metrics and Targets. The disclosure of this second report is in line with international best […]
Colombia’s July Oil Output Rose 2.3%
(ArabNews, 21.Sep.2022) — Oil prices ticked up on Wednesday on supply concerns, but expectations of another aggressive US interest rate hike capped gains amid investor fears it could lead to a recession and hurt fuel demand. Brent crude futures rose 11 cents, or 0.1 percent, to $90.73 a barrel by […]
GoldMining Extends Mineralization At La Mina Project, Colombia
(GoldMining Inc., 13.Sep.2022) — GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) announced additional assay results from its recently completed five hole 3,485 metre (m) drilling program on the La Garrucha target, located less than one kilometre to the east of existing mineral resources on the company’s 100% owned La Mina […]
Interoil’s August 2022 Production Report
(Interoil, 12.Sep.2022) — In August 2022, the average daily operated production from fields in Argentina and Colombia combined decreased by 48 boepd representing a decline of less than two percent compared with July. This is explained by some operational changes in Argentina especially in the Santa Cruz operation. In Argentina, […]
Colombia Government, Civil Society Talk Energy Transition
(Fossil Fuel Treaty.Org, 6.Sep.2022) — A unique and historic breakthrough is happening in Colombia where local and international experts, national government, and civil society are coming to the table to discuss Colombia’s energy transition within 15 years. Given the global energy crises and the climate emergency, Colombia’s ambitious plans make […]
EAI NRGBriefs Aug. 2022: Datanalisis, Petrobras Sempra Foundation, Diamond Offshore
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 31.Aug.2022, Words: 1,699) — Energy briefs as well as others related to finance and politics during August 2022 including Petrobras announcing firm well commitments to drill exploratory wells in 2023-24; Sempra Foundation and GRID Alternatives advancing energy access for orphans and migrant youth […]
Houston American Energy Provides Update on Operations in Colombia
(Houston American Energy, 30.Aug.2022) — Houston American Energy Corp. (NYSE American: HUSA) today provided an update with respect to 2022 operations and near term plans on the CPO-11 Block in Colombia. Houston American’s interest in the CPO-11 Block, and wells thereon, is held through our ownership interest in Hupecol Meta, […]
Moody’s Affirms Ecopetrol’s Investment Grade Ratings
(Energy Analytics Institute, 25.Aug.2022) — Moody’s Investors Service affirmed Ecopetrol S.A.‘s (BVC: ECOPETROL; NYSE: EC) global credit rating at Baa3 with a negative outlook and downgraded its individual rating (BCA) from Ba1 to Ba3, the Bogotá-based oil giant announced 25 August 2022 in an official statement. The rating agency said […]
Gran Tierra Energy Reveals New $150mn Credit Facility
(Gran Tierra, 18.Aug.2022) — Gran Tierra Energy Inc. (NYSE:GTE) (TSX:GTE) (LSE:GTE) announced that it has, through its wholly owned subsidiaries Gran Tierra Energy Colombia, LLC and Gran Tierra Colombia Inc., entered into a credit facility of up to $150mn. The facility replaces Gran Tierra’s previous credit facility that had a borrowing […]
Ecopetrol Inks Electric Energy Commercialization Deal with Gecelca S.A. E.S.P.
(Ecopetrol, 16.Aug.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) hereby informs that, on the occasion of its withdrawal from the electric energy commercialization activities, derived from the acquisition of 51.4% of the outstanding shares of Interconexión Eléctrica S.A. E.S.P. and in compliance with the energy regulation in Colombia, it entered into an electric […]
Ecopetrol Says Colombia Should Pare Back Planned Export Tax
(Bloomberg, 12.Aug.2022) — Colombia’s state-controlled oil producer Ecopetrol SA is proposing to dilute a planned oil export tax that is a major part of President Gustavo Petro’s economic program. Ecopetrol is asking the government, it’s largest shareholder, to raise the reference price for when it starts charging oil export taxes. […]
Colombia Forecasts 2022 Trade with Venezuela Could Hit $1.2 Billion
(Reuters, 12.Aug.2022) — Colombia’s trade with Venezuela could hit $1.2 billion this year, its commerce minister German Umana said on Friday, after the country’s new President Gustavo Petro pledged to revive trading relations with its South American neighbour. Relations broke down in early 2019 after Caracas objected to members of […]
Shell and Ecopetrol confirm gas province with Gorgon-2 well
CARACAS, VENEZUELA (Piero Stewart, Energy Analytics Institute, 10.Aug.2022) — Ecopetrol S.A. said the Gorgon-2 well proved the presence of natural gas in ultra-deep waters in the southern Colombian Caribbean. This confirms the importance of this province for gas exploration in this area of the South American country. The well is […]
Frontera Reveals Preliminary Results of Substantial Issuer Bid
(Frontera, 9.Aug.2022) — Frontera Energy Corporation (TSX: FEC) announces the preliminary results of its substantial issuer bid pursuant to which the company offered to purchase from shareholders for cancellation up to CAD $65mn (equivalent to US$50mn) of its outstanding common shares. The Offer proceeded by way of a “modified Dutch auction” procedure with […]
NRGBriefs: Petro’s Mines and Energy Minister
(Energy Analytics Institute, 8.Aug.2022) — Energy briefs including the naming of Irene Vélez Torres to serve as Colombia’s new Minister of Mines and Energy under the country’s new President Gustavo Petro. LATIN AMERICA AND THE CARIBBEAN Colombia — Irene Vélez Torres will serve as Colombia’s new Minister of Mines and […]
NRGBriefs: NGC and NewGen; Ecopetrol on Uchuva-1 and Gorgon-2
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 5.Aug.2022) — Energy briefs including The National Gas Company of Trinidad and Tobago Limited (NGC) and NewGen Energy Limited deepened their partnership to cooperate on the enabling of a sustainable hydrogen economy for the energy sector of Trinidad and Tobago. LATIN AMERICA AND […]
![Ecopetrol Group Announces 2Q:22 Results [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2020/10/ecopetrol_felipe_bayon_eh_jpg.jpg)
Ecopetrol Group Announces 2Q:22 Results [PDF Downloads]
(Ecopetrol, 4.Aug.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announced the Ecopetrol Group’s financial results for the second quarter of 2022. The financial results were prepared in accordance with the International Financial Reporting Standards applicable in Colombia. Table 1: Financial Summary Income Statement – Ecopetrol Group Billion (COP)2Q 20222Q 2021∆ ($)∆ (%)6M 20226M […]
NRGBriefs: Petrobras on CVM; Morgan Stanley on Ecopetrol; GtE Guyana
HOUSTON, TEXAS (By Energy Analytics Institute, 4.Aug.2022, Words: 346) — Energy briefs including Petrobras receiving an official letter from the Securities and Exchange Commission of Brazil (CVM) answering questions sent by the company’s management concerning the nomination of candidates by the controlling shareholder to the board; and “Ecopetrol shares enjoyed […]
Ecopetrol Reports 2Q:22 Results [PDF Downloads]
(Ecopetrol, 3.Aug.2022) — The Ecopetrol Group‘s figures for the period ending June 2022 mark a new historical milestone for the company, having achieved the best quarterly and half-yearly financial results in our history. During these first six months, the company achieved a net income of COP 17tn, which exceeds the […]
![NRGBriefs: Ecopetrol Virtual Press Event [Video w/ Felipe Bayón Pardo]](https://energy-analytics-institute.org/wp-content/uploads/2022/08/guyana-hess-gte-project.jpg)
NRGBriefs: Ecopetrol Virtual Press Event [Video w/ Felipe Bayón Pardo]
(Energy Analytics Institute, 3.Aug.2022) — Energy briefs including Colombia’s state-owned oil company Ecopetrol holding a virtual press event. LATIN AMERICA AND THE CARIBBEAN Colombia — Ecopetrol hosted a virtual press event on 3 Aug. 2022 w/ CEO Felipe Bayón Pardo. RELATED STORY: Ecopetrol Group Announces Second Quarter 2022 Results NORTH […]
Colombia Must Meet International Deforestation Targets
(Reuters, 3.Aug.2022) — Colombia must base its conservation targets on international agreements that push for annual deforestation of 100,000 hectares or less by 2025, incoming Environment Minister Susana Muhamad said on Wednesday. Her sector needs new sources of permanent funding, including carbon taxes, said Muhamad, who takes up her post on […]
Colombian Oil, Gas Loom Big
(Odessa American, 31.Jul.2022) — As the United States’ fourth-leading oil importer behind Canada, Mexico and Saudi Arabia, Colombia will keep growing in importance as major American oil and natural gas companies develop their interests in the exotic and beautiful South American country. Colombia’s oil history goes all the way back […]
Petrobras on Gas Find Offshore Colombia with Ecopetrol
(Petrobras, 29.Jul.2022) — Petrobras confirms the discovery of natural gas accumulation in the Uchuva-1 exploratory well, drilled in deep waters of Colombia, 32 kilometers off the coast and 76 kilometers from the city of Santa Marta, in a water depth of approximately 830 meters. The Uchuva-1 well was drilled in […]
Ecopetrol and Petrobras Announce Find at Uchuva-1 Gas Well
(Energy Analytics Institute, 29.Jul.2022) — Colombia’s state-owned oil and gas producer Ecopetrol and its Brazilian counterpart Petrobras announced a natural gas find offshore Colombia’s Caribbean coast at the Uchuva-1 well. The Uchuva-1 well was drilled 32 kilometers off Colombia’s Caribbean coast and some 76 kilometers from the city of Santa […]
Ecopetrol to Reveal 2Q:22 Results, Host Conference Calls
(Ecopetrol, 28.Jul.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announces that on Wednesday 3 August 2022, after market close, it will release its financial and operating results for the second quarter of 2022. On Thursday, 4 August 2022, Ecopetrol’s senior management will host two conference calls to review the results, one in Spanish […]
![NRGBriefs: Hess’ Sustainability Report; Frontera Earnings [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/07/sustainability-reports-source-hess.jpg)
NRGBriefs: Hess’ Sustainability Report; Frontera Earnings [PDF Download]
(Energy Analytics Institute, 25.Jul.2022) — Energy briefs including Hess Corporation (NYSE: HES) announcing publication of its annual sustainability report; and Frontera Energy Corporation (TSX: FEC) revealing that its 2Q:22 results will be released after markets close on Tuesday 9 August 2022. NORTH AMERICA US — Hess Corporation (NYSE: HES) announced publication of […]
Frontera Extends Substantial Issuer Bid to 8 Aug.
(Frontera, 25.Jul.2022) — Frontera Energy Corporation (TSX: FEC) has extended the expiry time of its offer to purchase from shareholders up to $65mn (equivalent to US$50mn) of its outstanding common shares (the “Shares”) for cancellation from 11:59 p.m. (Eastern time) on 29 July 2022 to 11:59 p.m. (Eastern time) on 8 August 2022, unless the offer […]
NRGBriefs: Biden on Gas Prices, Ecopetrol VP Resignation; Train 1 Drama
(Energy Analytics Institute, 22.Jul.2022) — Energy briefs including US President Joe Biden commenting on gas prices; Unit Corporation (OTC Pink: UNTC) reporting preliminary and unaudited selected financial and operational highlights for the 3-months ended 30 Jun. 2022; and Mónica Jiménez, VP of Corporate Affairs and Secretary General, resigning her post […]
Colombia’s Mines and Energy minister expects good results from Gorgon-2 well
PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 20.Jul.2022) — Colombia’s Mines and Energy Minister Diego Mesa visited the Gorgon-2 exploration well offshore the South America country and boasted results to come. “We expect positive results in the coming months,” Mesa said 20 July 2022 in a LinkedIn post, adding […]
NRGBriefs: OFAC on LPG Exports to Venezuela; Nothing Yet on Atlantic LNG
(Energy Analytics Institute, 7.Jul.2022) — Energy briefs including the US Office of Foreign Assets Control (OFAC) authorizing certain transactions involving the exportation or reexportation of liquefied petroleum gas (LPG) to Venezuela; and the government of Trinidad and Tobago yet to announce details of partnership restructuring related to Atlantic LNG. LATIN […]
NRGBriefs: Argentina’s Econ. Minister Resigns; Colombia’s New Environmental Minister
(Energy Analytics Institute, 2.Jul.2022) — Energy and economic briefs including Argentina’s Economic Minister Martín Guzmán resigning from his position on 2 July 2022, according to a letter he posted on his Twitter account; Colombia’s president-elect Gustavo Petro appointing Susana Muhamad, an environmental activist, to head the country’s new Environmental Ministry; […]
S&P Confirms Ecopetrol’s Long-term International Rating
(S&P, 1.Jul.2022) — Ecopetrol S.A. (BVC: ECOPETROL) (NYSE: EC) reports that the rating agency Standard & Poor’s (S&P) confirmed Ecopetrol’s long-term international rating at BB+, with a stable outlook, and the Company’s individual credit rating (Stand-Alone) at ‘bbb-‘. The credit rating reflects the stability of the company’s financial results, in […]
In Colombia, Natural Gas Consumption Exceeding Production
(EIA, 27.Jun.2022) — In 2020, when drought resulted in decreased hydroelectric power, Colombia imported 14.2 billion cubic feet (Bcf) of natural gas, which helped the country meet natural gas demand for electricity, according to our recently updated Colombia Country Analysis Brief. More than 65% of electricity generation in Colombia came from […]
NRGBriefs: Canacol on Colombian Operations; Perfect Storm of Soaring Inflation
(Energy Analytics Institute, 25.Jun.2022) — Energy briefs including Canacol Energy Ltd. providing details about its operations in Colombia as well as its value proposition in the South American country [PDF download]; and many emerging economies are currently faced with a perfect storm of soaring inflation, acute shortages of fuel and […]
Ecopetrol Updates on Partial Distribution of Occasional Reserve
(Ecopetrol, 21.Jun.2022) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that, at the Extraordinary General Shareholders’ Meeting held on 17 June 2022, the company’s Shareholders approved the modification of the: i) deadline for the payment of dividends to the Nation, approved in the ordinary session of 30 March 2022, from […]
Canacol Energy Announces Dividend
(Canacol Energy, 20.Jun.2022) — Canacol Energy Ltd. (TSX:CNE) (OTCQX:CNNEF) (BVC:CNEC) announced that it has declared a dividend of CAD$.052 per share, payable on 15 July 2022, to shareholders of record at the close of business on 30 June 2022. This dividend qualifies as an ‘eligible dividend’ for Canadian income tax […]
The President Who Did Everything Right and Got No Thanks
(The Atlantic, 20.Jun.2022) — The perplexing part of Colombia’s electoral choice of a former leftist guerrilla over a right-wing populist is how unheralded the success of the outgoing moderate was. Which would you prefer? An elderly TikTok star who compares himself to Donald Trump? Or a former Marxist guerrilla who attended the funeral of […]
Gustavo Petro, Former Guerrilla, will be Colombia’s First Leftist President
(Washington Post, 19.Jun.2022) — Gustavo Petro, a former rebel who rallied young and poor voters with promises to transform an unequal society, was elected Colombia’s first leftist president on Sunday, in a resounding rejection of the political establishment that has ruled the South American nation for two centuries. Petro received […]
NRGBriefs: Colombia Elects Gustavo Petro; Ecuador’s Force Majeure
(Energy Analytics Institute, 19.Jun.2022) — Political and energy briefs including Colombians electing Gustavo Petro as the South American country’s next president from 2022-2026; Ecuador declaring Force Majeure along the country’s entire hydrocarbon value chain; and Gazprom announcing it will deliver volumes of gas in line with recent days. LATIN AMERICA […]
Establishment of the Business Committee of the Ecopetrol BODs
(Ecopetrol, 13.Jun.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) informs that, given the resignation of Juan Emilio Posada Echeverri from the Board of Directors of the company, the board, in its session on June 9, 2022, approved the new members of the Business Committee, which is formed as follows: BUSINESS COMMITTEE Carlos Gustavo CanoHernando RamirezSergio […]