Colombia

Mexico’s Petróleos Mexicanos (Pemex) is moving in the opposite direction of fellow Latin American national oil companies (NOCs) by failing to embrace the energy transition and natural gas, according to a panel of experts. While NOCs such as Colombia’s Ecopetrol SA and Brazil’s Petróleo Brasileiro SA (Petrobras) have embraced diversification and environmental, social and governance…

Talk of the energy transition dominated this week’s CERAWeek by IHS Markit, with Latin America’s national oil companies (NOC), which have long served as key sources of revenue for their governments, part of the discussion. The consensus is oil and gas will remain relevant for decades as energy use intensifies across rapidly developing economies. However,…

Colombia’s state oil company Ecopetrol SA will continue its foray into shale plays in 2021, principally in the prolific Permian Basin in the United States but also in a pilot program at home. The company will spend more than $600 million in unconventional plays next year, part of an overall capital expenditure (capex) plan of…

Colombia has published the terms of reference for its hydraulic fracturing (fracking) pilots and will award contracts to four projects by the end of this month. According to a reference document published in October by the National Hydrocarbons Agency (ANH), the most “favorable” four projects will be picked from those taking part in the bidding…

U.S. exploration and production (E&P) companies arecuttingcapital expenditure (capex) by 35-40% from 2019 as oil prices continue to get hammered and demand is destroyed by the coronavirus pandemic, but spending reductions could be even harsher south of the U.S. border.

A subsidiary of Royal Dutch Shell plc has acquired a 50% operating stake in three ultra-deepwater natural gas blocks from Colombian national oil company Ecopetrol SA, the companies said Friday.

A Canadian producer with international operations has found a growth spot in liquefied natural gas (LNG) traffic by using new technology on land in Colombia instead of venturing into the high-cost overseas export tanker trade.

Though hydraulic fracturing (fracking) has transformed the energy sector in the United States, only Argentina in Latin America has followed its lead in commercially developing hydrocarbons through unconventional drilling.

Petroleos Mexicanos (Pemex) and Pacific Rubiales Energy Corp., which has a base in Colombia and claims to be the largest independent oil and gas producer in Latin America, have entered into a three-year memorandum of understanding (MOU) to analyze potential oil and natural gas cooperation in Mexico. This will include exploration, deep-water projects, revitalization of mature fields, heavy and extra-heavy oil onshore and offshore fields, high water production fields and other upstream activities.