LNG Energy Group finalised a court-approved reorganisation agreement in Colombia and settled a major debt through asset transfer, while continuing its operational and financial recovery plan.
Gran Tierra Energy has signed a crude oil sale agreement with a $200mn prepayment and amended its Colombian credit facility to improve financial flexibility.
Colombian company Ecopetrol has secured authorisation to borrow COP700 000 million ($171mn) from Banco Davivienda to bolster its liquidity over a five-year period.
The United States announces a tariff increase beyond the 10% base rate targeting several Colombian products. Bogotá has recalled its ambassador. The detailed list of tariff lines has not yet been published, while Colombia’s ban on coal exports to Israel remains in effect.
Washington confirms it has mandated the CIA to carry out secret actions against Nicolas Maduro’s government, escalating tensions between the United States and Venezuela amid geostrategic and energy stakes.
Qatar’s sovereign wealth fund has raised its stake to approximately 15% in ISAGEN, one of Colombia’s leading power producers, through a $535mn investment alongside Brookfield.
EDF power solutions and Refocosta have inaugurated Colombia’s largest wood biomass power plant in Villanueva, with 30 MW of capacity and an annual output of 200 GWh injected into the national grid.
Brazilian holding J&F Investimentos is in talks to acquire EDF’s Norte Fluminense thermal plant, valued up to BRL2bn ($374 million), as energy-related M&A activity surges across the country.
Norwegian group Scatec has signed a power sales agreement with BTG Pactual for its first solar project in Colombia, representing an estimated $110mn investment.
President Gustavo Petro bans all coal exports to Israel, a decision with minor energy effects but strong diplomatic weight, illustrating his anti-Americanism and attempts to reshape Colombia’s domestic politics.
CATL unveiled in São Paulo its new 9MWh TENER Stack system, designed for the South American market, responding to rising demand for energy storage driven by the growth of renewable energy.
Frontera Energy Corporation confirms the divestment of its interest in the Perico and Espejo oil blocks in Ecuador, signalling a strategic refocus on its operations in Colombia.
Gran Tierra Energy confirms a major asset acquisition in Ecuador’s Oriente Basin for USD15.55mn, aiming to expand its exploration and production activities across the Andean region.
Brookfield Renewable announces an investment of up to $1 billion to increase its stake in the Colombian energy company Isagen to 38%. Qatar Investment Authority (QIA) is also co-investing to raise its stake to 15%.
An explosion caused by a homemade explosive device in northeastern Colombia has forced Cenit, a subsidiary of Ecopetrol, to temporarily suspend operations on the strategic Caño Limón-Coveñas pipeline, crucial to the country's oil supply.
The Colombian prosecutor’s office has seized two offices belonging to the oil company Perenco in Bogotá. The company is accused of financing the United Self-Defense Forces of Colombia (AUC) in exchange for security services between 1997 and 2005.
MPC Energy Solutions has signed an agreement to sell its stake in the Planeta Rica solar project in Colombia. The transaction is expected to close by the end of 2025.
Brazil, Mexico, Argentina, Colombia, Chile, and Peru significantly increase renewable electricity production, reaching nearly 70% of the regional electricity mix, according to a recent Wood Mackenzie study on Latin America's energy sector.
In Colombia, the conversion of vehicles to natural gas is gathering pace as the country's first left-wing government abolishes gasoline subsidies, offering tax incentives for natural gas vehicles.
The fate of the climate negotiations at COP28 rests on an ambiguity surrounding the term "unabated fossil fuels", evoking a decisive turning point in global climate policy.
At the heart of COP28, Colombia stands out as the first major continental oil producer to support an anti-fossil fuel treaty, illustrating a progressive commitment to a sustainable future.
The International Court of Justice has rejected Nicaragua's claim against Colombia concerning an oil- and fish-rich area of the Caribbean Sea. Colombia celebrated the decision as a "great victory", putting an end to their latest legal dispute over the delimitation of maritime borders.
Colombian oil reserves are dwindling faster than expected, allowing domestic supply only until 2030. This alarming situation calls into question the government's energy transition and is causing concern within the oil industry.
Colombian motorists are facing an unprecedented increase in gasoline prices, following the removal of government subsidies. This decision aims to reduce the public deficit and promote a sustainable environmental policy, but it has led to high inflation and criticism from citizens.
Venezuelan President Maduro is accusing the United States of "looting" Citgo, a refining company owned by Venezuelan oil giant PDVSA, as a U.S. court authorizes the sale of Citgo's shares to pay off its creditors.
Colombia is investing $135 million in renewable energy to reduce its dependence on oil and cut greenhouse gas emissions. The government will no longer award contracts for hydrocarbon exploration and production.
Enerfín, the renewable energy subsidiary of Elecnor Group, is building its first photovoltaic plant in Colombia with a loan of 300 billion Colombian pesos. This plant, located in the La Dorada region, is expected to produce 263 GWh per year and avoid the emission of 132,480 tons of CO2 each year.
Colombian oil company Ecopetrol will use AI to improve exploration and increase existing crude production. This initiative is part of the company's transition to greener energy sources.
The construction of wind turbines in the far north of Colombia is raising tensions among indigenous Wayuu communities, who fear losing their ancestral territory to renewable energy. Despite promises of productive projects and clean water, some residents regret the lack of guidance in negotiating better terms.
Cox Energy América is positioning itself as a key player in the energy transition in South America by awarding 45 MW for solar power generation in Colombia.
The Ecuadorian government has signed an agreement with the Spanish company Solarpack to build and operate the country's first large-scale solar energy project, with an estimated investment of nearly $145 million.
On Tuesday, Enel, Italy's largest utility, announced an ambitious asset sale plan aimed at reducing its net debt by the end of this year. The company will then focus on six main markets in Europe and the Americas.
There have been significant changes in the U.S. nuclear information sharing rules. Mexico becomes an unrestricted authorized country, while Colombia and Egypt are now excluded from the list of generally authorized countries.
Enel released outstanding preliminary results for 2022 on Thursday, with a 63.9% jump in revenue. Revenues amounted to 140.5 billion euros, well above analysts' expectations. Gross operating income also increased by 9.3% to 18.8 billion euros, demonstrating the group's resilience in an unfavorable environment.
The oil industry expresses its deep concern about the serious social and economic consequences resulting from the blockage of the road that connects Puerto Gaitán to the village of Rubiales.
