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(WO) — A proposal to abruptly end oil and gas exploration in Colombia would lead to higher prices for local consumers and be challenged in court, according to the country’s state-run driller. Gustavo Petro, the leading candidate ahead of presidential elections in May, is looking to speed up Colombia’s transition to clean energy by ceasing... Continue Reading →
(Reuters) - The proven oil and gas reserves of Colombia's majority state-owned oil company Ecopetrol (ECO.CN) rose 13% last year, the company said on Monday, thanks partially to an improved international price for Brent. Ecopetrol's proven reserves - also known as 1P reserves - finished last year at 2 billion barrels of oil equivalent (boe), compared with... Continue Reading →
Rio de Janeiro, December 23, 2020 - Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 02/19/2021, informs that it signed today with Carmo Energy S.A. a contract for the sale of all its stakes in a set of 11 concessions of onshore production fields, with integrated facilities, located in the state... Continue Reading →
(Reuters) - There were no counter-offers for oil and gas blocs in Colombia's latest licensing round, but contracts for 30 blocs which received bids will be signed in the coming days, the government said on Thursday. The oil and gas industry is a major source of income and foreign exchange for Colombia and the government... Continue Reading →
(Reuters) Latin America's oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana, and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development. Brazil is set to receive bids on Friday for offshore oil reserves that analysts say are some of the most promising... Continue Reading →
Colombia received bids for 30 blocks from seven companies during its latest oil and gas auction, the government said on Wednesday, as the Andean country looks to maintain energy self-sufficiency amid a drive to develop renewable sources. The bids have a combined estimated investment value of just over $148.5 million. Colombia counts on the oil... Continue Reading →
Colombia will look to add 3 billion barrels of oil equivalent (boe) to its hydrocarbon reserves by 2040, Armando Zamora, president of the national hydrocarbons agency (ANH), said on Friday. The addition of these reserves will guarantee Colombia's energy self-sufficiency said Zamora, who spoke during the final day of a virtual forum hosted by the... Continue Reading →
Colombian majority state-owned oil company Ecopetrol's third-quarter net profit surged to 3.81 trillion pesos ($983.4 million) on higher crude prices and structural changes implemented to meet recent industry challenges, the company said on Tuesday. Earnings before interest, taxes, depreciation and amortization increased 97% to 10.4 trillion pesos. "The results of the third quarter of 2021... Continue Reading →
(Reuters) - Colombia on Friday signed exploration and production contracts for four off-shore blocks with energy company Anadarko, a subsidiary of Occidental Petroleum Corp , with expected investment commitments of $1.4 billion. The four blocks, which will be wholly owned by Anadarko Colombia Company, are located off the Andean country's Caribbean coast and cover some... Continue Reading →
The Colombian Maritime Authority (DIMAR) has selected Fugro to carry out a joint environmental and exploration seep study in the Caribbean Sea. The project began in late August and is scheduled to complete in November. According to Fugro, the work will involve the acquisition, analysis and interpretation of seabed sediment samples and heat flow measurements... Continue Reading →
Brazil Energy Insight 