News and AnalysIs for

Colombia’s Central Bank (BanRep) released Foreign Direct Investment (FDI) figures as of March 2024. Here are the details.

Canacol Energy Ltd. (TSX: CNE) provided the following information concerning the new Chontaduro 1 gas discovery.

President Gustavo Petro proposed a strategic alliance between Colombia’s leading oil company, Ecopetrol (NYSE: EC), and Brazil’s Petrobras.

The National Hydrocarbons Agency (ANH) released a draft resolution aimed at addressing special conditions affecting mission contracts signed from the effective date of Agreement 2 of 2017 or those voluntarily adopting it.

Just under two weeks ago on April 4^th, 2024, we published the news that the Administrative Tribunal of Cundinamarca (TAC) had rejected Hupecol’s lawsuit over its environmental license for the Serrania block. In 2016, the license had been granted and then revoked days later after a public outcry, rendering the block useless. The TAC’s decision suggests that existing environmental licenses can be revoked at the whim of the National Environmental Licensing Agency (ANLA) at any time, significantly weakening investor confidence in Colombia’s legal stability. We asked Dentons Cardenas & Cardenas (Dentons) for its opinion and we provide some non-legal opinions of our own.

Orlando Velandia, the President of the National Hydrocarbons Agency (ANH), recently provided insights on Colombia’s exploration activities and the country’s energy landscape.