(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 […]
Category: Colombia
Colombia energy
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 Bayón to head Ecopetrol until 31 Mar. 2023
(Ecopetrol, 27.Jan.2023) — Ecopetrol S.A. informs that Felipe Bayón Pardo will lead the company as CEO until 31 Mar. 2023. The Board of Directors recognized Felipe Bayón 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 Vélez 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 […]
Simon Bolivar Foundation Support Health Programs for Venezuelan, Other Migrants
(Simón BolÃvar Foundation Inc., 17.Nov.2022) — Simón BolÃvar 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 […]
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]
(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$50mn) of its outstanding common shares. The Offer proceeded by way of a “modified Dutch auction” procedure with […]
NRGBriefs: Petro’s Mines and Energy Minister
(Energy Analytics Institute, 8.Aug.2022) — Energy briefs including the naming of Irene Vélez Torres to serve as Colombia’s new Minister of Mines and Energy under the country’s new President Gustavo Petro. LATIN AMERICA AND THE CARIBBEAN Colombia — Irene Vélez Torres will serve as Colombia’s new Minister of Mines and […]
NRGBriefs: NGC and NewGen; Ecopetrol on Uchuva-1 and Gorgon-2
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 5.Aug.2022) — Energy briefs including The National Gas Company of Trinidad and Tobago Limited (NGC) and NewGen Energy Limited deepened their partnership to cooperate on the enabling of a sustainable hydrogen economy for the energy sector of Trinidad and Tobago. LATIN AMERICA AND […]
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Ecopetrol Group Announces 2Q:22 Results [PDF Downloads]
(Ecopetrol, 4.Aug.2022) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announced the Ecopetrol Group’s financial results for the second quarter of 2022. The financial results were prepared in accordance with the International Financial Reporting Standards applicable in Colombia. Table 1: Financial Summary Income Statement – Ecopetrol Group Billion (COP)2Q 20222Q 2021∆ ($)∆ (%)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 […]
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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 […]
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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 […]