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(Reuters) - Rating agency Moody's on Wednesday downgraded Colombian majority state-owned energy company Ecopetrol into junk territory, citing increased indebtedness, a boost in dividends and an ambitious investment plan over the next three years. Moody's cut Ecopetrol's long-term issuer rating and senior unsecured ratings to Ba1, considered "junk," from Baa3. Ecopetrol has been taking on... Continue Reading →
(Reuters) - Colombia's Trasandino pipeline is forecast to remain offline until December, the chief executive of Colombia's majority state-owned energy company Ecopetrol said on Wednesday. Earlier this month, while reporting its first-quarter financial results, Ecopetrol said it had been transporting crude oil through Ecuador since November in order to combat oil theft. Thousands of barrels of... Continue Reading →
(Reuters) - Colombia's average daily oil output is closing in on 800,000 barrels per day (bpd) even as the Andean country increasingly looks to boost renewable energies, the president of the National Hydrocarbons Association (ANH) regulator said. The government of leftist President Gustavo Petro has said it wants to wean Colombia off of its dependence... Continue Reading →
(OE) Black & Veatch has completed a feasibility study for the planned Andes Energy Terminal, a liquefied natural gas (LNG) regasification terminal and power plant. The study assessed site suitability, project design requirements, capital and operating costs, financial viability, financing options, climate resilience, and implementation and construction plans. Beginning with a site assessment that focused... Continue Reading →
(Reuters) Colombia's majority state-owned energy company Ecopetrol has held talks with big players ahead of a potential bid in an offshore wind auction organized by the country's government, Chief Executive Ricardo Roa said on Wednesday. Roa was speaking during a call with analysts regarding the company's financial results for the first quarter of 2024, where... Continue Reading →
(Reuters) - Brazil's state-run oil firm Petrobras will begin to drill off Colombia's coast at its Uchuva-2 well this month, Chief Exploration and Production Officer Joelson Mendes told journalists during a press-conference. The promising area off Colombia's coast could justify a large project to supply natural gas to the Andean country and for exports, Mendes said in... Continue Reading →
(Reuters) - Colombia's majority state-owned energy company Ecopetrol (ECO.CN), opens new tab is analyzing its potential direct participation in the Andean country's first-ever offshore wind auction, the company said in a statement to Reuters. The government of President Gustavo Petro, Colombia's first leftist leader, has said it wants to wean the Andean country from its dependence on... Continue Reading →
(Reuters) - Colombian state energy company Ecopetrol (ECO.CN), opens new tab and its Brazilian counterpart Petrobras (PETR4.SA), opens new tab should work together on developing green hydrogen, Colombian President Gustavo Petro said on Wednesday after meeting Brazilian President Luiz Inacio Lula da Silva. "There is a project that I think we could look at through our two big oil... Continue Reading →
(Reuters) - A promising area off Colombia's coast where Brazil state-run Petrobras (PETR4.SA), opens new tab is drilling this year could justify a large project to supply natural gas to the Andean country and for exports, Petrobras' head of exploration and production said on Wednesday. As oil production in Brazil's prolific presalt region is set to plateau... Continue Reading →
(PN) The director of Exploration and Production at Petrobras, Joelson Mendes, said that the resilience and competitiveness of the company's portfolio of E&P areas, depending on the production profile, is more efficient due to the technological solutions developed to reduce emissions . Joelson participated in the “Global Competitiveness of Latin American Upstream” panel at CERAWeek,... Continue Reading →
Brazil Energy Insight 