Peace negotiations with Colombia’s last true guerrilla insurgency are on the verge of collapse after the August 3 expiration of a ceasefire between the government and the ELN.

The bilateral ceasefire, in effect for the past year, ended after the National Liberation Army (Ejército de Liberación Nacional – ELN) rejected government offers to discuss a renewal.

The agreement was plagued by continued violence and hostilities, such as armed strikes and kidnappings, with both sides accusing each other of not upholding their end of the bargain.

“Just extending the ceasefire isn’t enough if it doesn’t come with new steps to protect civilians from attacks, hostilities, kidnappings, and threats,” said Otty Patiño, Colombian High Peace Commissioner.

Meanwhile, the ELN has accused the government of not negotiating in good faith.

“What’s the point of urging the ELN to sign new agreements if the previous ones haven’t been upheld?” asked the group’s commander, Eliecer Erlinto Chamorro, alias “Antonio Garcia,” in a statement released on July 26.

SEE ALSO: From Total to Partial Peace: Colombia’s Talks With Crime Groups Fragment

The negotiations between the ELN and the government had advanced further than any other talks held under President Gustavo Petro’s Total Peace (Paz Total) plan, which has sought demobilization agreements with criminal and armed groups across Colombia.

But the expiration of the ceasefire adds to a series of recent setbacks, including the ELN’s refusal to stop kidnappings and deepening internal divisions, and could lead the guerrillas to abandon the negotiating table completely.

Ceasefire Violations

While the ceasefire agreement primarily prohibits offensive military operations between the parties, it also includes other conditions, such as banning the ELN from “taking hostages,” widely understood to mean kidnapping.

The ELN has violated the agreement at least 39 times over the past year, according to the Colombian think tank, the Conflict Analysis Resource Center (Centro de Recursos para el Análisis de Conflictos – CERAC). These violations include five deaths, three injuries, and at least 52 kidnappings.

One of the most notable incidents occurred less than three months after the ceasefire took effect, in October 2023, when ELN members kidnapped the parents of Colombian football star Luis Díaz. After international attention pushed the group to release them, the ELN announced that it would cease kidnappings for ransom — a key part of their criminal operations.

Despite the ELN’s violations, negotiators agreed to extend the ceasefire on February 5 for another six months.

SEE ALSO: What Is Behind Increased Violence in Colombia?

But internal divisions on the ELN side soon became apparent, leading to larger problems for the negotiations.

On February 20, the ELN delegation declared a crisis in the peace negotiations, angered over the government’s “regional dialogue” with the Comuneros del Sur, a dissident ELN faction in Nariño that had started parallel negotiations with the government without the consent of the guerrilla group’s top leaders.

Over the next few months, the ELN temporarily suspended its participation in the talks and reneged on its promise to cease kidnappings, citing the government’s “lack of will” in establishing a donor fund to provide alternative financing, which the group claimed left them reliant on kidnapping. The government, however, argued that the fund could not be established while negotiations were stalled, creating a catch-22 situation.

Willingness for Peace

For weeks leading up to August 3, the government’s negotiation team had warned that time was running out to renew the ceasefire with the ELN, and continuously asked the guerrilla group to resume the peace talks.

At the same time, key officials were critical of the ELN’s willingness to negotiate, especially on the issue of kidnapping, an issue that has derailed negotiations in the past. Patiño stressed that the Colombian government would not sign agreements with the ELN if the group continued the practice.

The government has also questioned the group’s desire for peace.

“After years of dialogue, the ELN still has not answered whether it is willing to transition to peace or if, on the contrary, it sees this process as an opportunity to strengthen themselves militarily,” said the press release.

Some experts agree that the ELN seems to have taken advantage of the negotiations with no intention of ever laying down arms. The group advanced negotiation items that benefited its political cause, without moving forward on demobilization, Jorge Mantilla, a political scientist who studies Colombia’s armed conflict and security, told InSight Crime.

“The ELN has been aiming to buy time from the very start of the negotiations,” Mantilla said

What Does This Mean for the ELN?

The end of the ceasefire between the Colombian government and the ELN has dealt a potentially mortal blow to an already fragile negotiation.

As the ELN has refused to continue negotiations with the government, the process with the group’s dissident Comuneros del Sur Front has moved forward. So far, this is the only ELN front to have split from the Central Command.

If the parallel peace talks succeed, it could encourage other factions to split from the ELN and seek peace with the government, especially among fronts under pressure from belligerent rivals.

The main concern is the Western War Front (Frente de Guerra Occidental – FGOC) in Chocó, which has been fighting a losing battle with the Gaitanist Self-Defense Forces of Colombia (Autodefensas Gaitanistas de Colombia – AGC) since 2018 for control over drug trafficking routes and illegal mining. In this area, the lapse of the ceasefire and an eventual return to military operations against the ELN could push the FGOC to the same decision as the Comuneros del Sur.

In other areas, however, the ELN has taken advantage of the ceasefire to solidify its control. The ELN continues to be a dominant criminal group along large stretches of the Colombia-Venezuela border, increasing its control over rural communities. The lapse of the ceasefire could lead to increased violence in these areas as the group retaliates against the Colombian government and continues its territorial disputes with other criminal actors.

The ELN also has a presence in Venezuela and close ties to the government of President Nicolás Maduro, who claimed victory in recent elections despite irregularities in vote counting.

The Eastern War Front (Frente de Guerra Oriental – FGO) and the Northeastern War Front (Frente de Guerra Nororiental) on the border between Colombia and Venezuela are key to the Maduro regime’s criminal balancing act. Since at least 2016, the ELN has expanded along the border with Venezuela with the approval of the Venezuelan political and military forces, and has adopted an increasingly paramilitary role, defending the interests of the Maduro government. Should Maduro cling to power, these fronts would be less likely to make a deal with the Colombian government.

This article, written by Lara Loaiza and Henry Shuldiner, was originally published by InSight Crime, a Medellín-based foundation dedicated to the investigation and analysis of crime and security in Colombia and Latin America.

Tecnoglass, Inc. (NYSE: TGLS) subsidiary ES has announced that its ES Pivot Door has received recognition from two industry publications. The ES Pivot Door was named “Best Hardware Product or System” in the 2024 Glass Magazine Awards, a category that evaluates design, functionality, and innovation in hardware systems for glass installations in the architectural glass and glazing industry.

Additionally, the ES Pivot Door was recognized in Luxe Magazine’s RED (Residential Excellence in Design) Awards, earning the Readers’ Choice award. This accolade, part of the luxury residential design sector, acknowledges achievements in residential architecture, interior design, and landscape architecture.

Tecnoglass CEO José Manuel Daes remarked that the awards reflect the company’s focus on innovation and design in high-performance window and door systems.

According to reports by Bloomberg and OilPrice.com, Colombia is set to break records with the drilling of the world’s deepest offshore oil well later this year. Ecopetrol SA (NYSE: EC), Colombia’s state-owned oil company, and Occidental Petroleum (NYSE: OXY) are collaborating on this ambitious project, aiming to drill in waters more than 12,000 feet deep in the Caribbean Sea.

The well, located in the Tayrona block off the northern coast of Colombia, represents a significant exploration effort in deepwater drilling. The project would Colombia’s  offshore oil and gas production, diversify energy sources, and potentially expand reserves in the face of declining onshore production in the face of Colombian President Gustavo Petro’s opposition to expansion of the petroleum sector.

The Komodo-1 well will reach 3,900 meters or almost 2.5 miles under the Caribbean Sea.

Drilling at such depths presents considerable technical challenges, including extreme pressure and temperature conditions. However, the potential rewards are substantial, with the region believed to hold significant untapped hydrocarbon resources. Named Komodo-1, if successful, the well will reach a depth of 3,900 meters, or 12,800 feet. The ultra deepwater well will exceed the depths of Angola’s Block 48 well, which currently holds the world record at 3,628 meters.

Ecopetrol and Occidental have both emphasized the strategic importance of this project. For Ecopetrol, it aligns with the company’s objectives to enhance its offshore capabilities and explore new sources of revenue. Occidental, with its extensive experience in deepwater drilling, brings technical expertise to the project.

The drilling is expected to commence in the fourth quarter of 2024, with results anticipated in 2025. If successful, the well could mark a major milestone in offshore oil exploration, not just for Colombia but for the global oil industry.

The outcome of this drilling could have significant implications for Colombia’s energy sector, potentially leading to increased foreign investment and further exploration in the Caribbean basin. It also positions Colombia as a key player in the Latin American offshore oil landscape.

Frontera Energy Corporation (TSX: FEC) has released its financial results for the second quarter of 2024, highlighting both operational and financial performance metrics. Frontera reported a net loss of $2.8 million for Q2 2024, improving from a net loss of $8.5 million in Q1 2024 but down from a net income of $80.2 million in Q2 2023. This loss was primarily driven by a $32.7 million income tax expense and $17.4 million in finance expenses, partially offset by $45.2 million in operating income.

The company recorded $208.9 million in net sales, a slight increase from $194.5 million in Q1 2024. Total production for the quarter averaged 39,912 barrels of oil equivalent per day (boe/d), up from 38,193 boe/d in the previous quarter. Heavy crude oil production increased to 24,839 barrels per day, while light and medium crude oil production remained stable at 12,583 barrels per day.

Frontera’s $2.8 million net loss is an improvement over its $8.5 million net loss in Q1.

Operational netback per barrel of oil equivalent (boe) improved to $46.40, up from $43.97 in Q1 2024. The company’s operating EBITDA also saw an increase to $110.3 million from $97.2 million in the previous quarter.

Capital expenditures for Q2 2024 were reported at $80.2 million, up from $69.4 million in Q1 2024 but significantly lower than the $154.9 million recorded in Q2 2023. Frontera generated $149.8 million in cash from operating activities, up substantially from $65.6 million in the previous quarter.

Frontera continues to advance its exploration activities in Guyana, working with its joint venture partner and engaging in discussions with the Government of Guyana. The company is exploring strategic options for the Corentyne block with the support of investment bank Houlihan Lokey.

Frontera Energy Corporation is a Canada-based oil and gas company focused on exploration and production in Latin America. The company’s primary operations are in Colombia, Ecuador, and Guyana.

Above photo: Frontera Energy’s Quifa field in Meta, Colombia (courtesy Frontera)

Tecnoglass, Inc. (NYSE: TGLS), a manufacturer of high-end aluminum and vinyl windows and architectural glass, has released its financial results for the second quarter ending June 30, 2024. The company reported total revenues of $219.7 million, reflecting a 2.5% decrease from the previous year’s record of $225.3 million.

Single-family residential revenue showed strong organic growth, reaching a record $95.7 million, a 10.1% increase from the previous year. The company attributed this growth to improving market trends and the expiration of the Florida Impact-Resistant Windows and Doors Sales Tax Exemption.

Net income for the quarter was $35.0 million, or $0.75 per diluted share, compared to $52.6 million, or $1.10 per diluted share, in the previous year. Adjusted net income was $40.5 million, or $0.86 per diluted share, down from $53.5 million, or $1.12 per diluted share, in the prior year. Adjusted EBITDA stood at $64.1 million, representing 29.2% of total revenues, compared to $85.0 million, or 37.7%, in the prior year.

Tecnoglass has reported solid financial performance for the second quarter of 2024, driven by strong single-family residential revenue and a growing backlog.

Cash Flow and Liquidity

The company generated $34.5 million in cash from operations, representing 54% of adjusted EBITDA. Capital expenditures amounted to $20.3 million, including investments in land for potential capacity expansion and a down payment for the Miami headquarters and flagship showroom.

Tecnoglass returned $5.2 million to shareholders in cash dividends and made a $15 million voluntary prepayment to its term loan facility. The company ended the quarter with approximately $300 million in liquidity, including $127 million in cash and cash equivalents and $170 million in available credit. The net leverage ratio was a record low of 0.06x at the quarter’s end.

Backlog and Orders

The company’s backlog grew 29% year-over-year to a record $1.02 billion. Single-family residential orders increased by over 60% compared to the previous year, continuing a record trajectory for the second quarter.

Outlook

Tecnoglass provided an improved full-year 2024 outlook. The company expects full-year revenues to range between $860 million and $910 million, representing approximately 6% growth at the midpoint. Adjusted EBITDA is projected to be between $260 million and $285 million, with an implied adjusted EBITDA margin of approximately 31% at the midpoint.

Tecnoglass COO Christian Daes (l), CEO José Manuel Daes (seated), joined by Ignacio Guatibonza Guerra of BakerTilly (photo Loren Moss)

Sustainability Efforts

Tecnoglass has achieved carbon neutrality for 2022 and 2023, reinforcing its commitment to sustainable practices. The company invested in energy efficiency projects, including upgrading generators and implementing cogeneration systems, resulting in total GHG emissions of 390,411 tCO2eq/year. To offset its carbon footprint, Tecnoglass acquired carbon credits from projects in Colombia certified through the Cercarbono program.

CEO José Manuel Daes stated, “Our commitment to sustainability is a strategic priority. We recognize the importance of taking proactive steps to combat climate change and are proud to be at the forefront of sustainability efforts in our industry.”

Tecnoglass aims to become a net-zero emissions company by 2050, continuing to invest in renewable energy projects, energy efficiency initiatives, and the continuous improvement of its production processes.

US Multinational outsourcing firm TaskUs (NASDAQ: TASK), marked a year of operations in Medellín, Colombia last week with the official launch of The Gallery, a new facility that supports TaskUs’s expansion plan in Colombia.

TaskUs, which focuses on digital services, CX solutions, artificial intelligence, and content security, has opened its third operations center in Colombia and the first in Medellín, located in the Ruta-N business incubation complex. The new Medellín facility is in addition to two TaskUs facilities in Cali, Colombia.

The new Medellín facility is in addition to two TaskUs facilities in Cali, Colombia.

Operational for a year, The Gallery has already generated over 400 direct jobs and provides bilingual support to clients mainly in the United States. “We are pleased to be in Medellín. At TaskUs, we invest in the learning and development of our people, equipping leaders and potential leaders with necessary skills and providing online learning resources available anytime,” said Pablo González, Vice President of Operations for TaskUs Colombia.

Carmen Caballero, president of ProColombia, stated, “The expansion of TaskUs in Colombia reflects global investors’ confidence in the country. TaskUs bets on our talent and contributes to its growth and development. ProColombia and the Ministry of Commerce, Industry, and Tourism will continue to support TaskUs in their future plans and expansion in our territory.”

María Fernanda Galeano, Secretary of Economic Development of Medellín, added, “The arrival of TaskUs in Medellín is significant for our district, not only in terms of employment and economic development but also as a key boost to strengthen our business ecosystem. The opening of The Gallery in Ruta N marks the start of a strategic collaboration benefiting both the local community and the company, reaffirming Medellín as an attractive destination for international investments.”

The Gallery features collaborative and modern workspaces, including recreational areas in a highly innovative environment, a concept TaskUs is known for globally, according to González. TaskUs, which began Colombian operations in Cali in 2021, now has two sites in that city, generating over 2,000 qualified jobs in Colombia, serving clients in sectors such as health, retail, e-commerce, tourism, travel, and technology.

“TaskUs is expanding its operations with the opening of a second office in Medellín, offering 700 new job opportunities,” stated Luis Barreto, Vice President of TaskUs for LATAM. TaskUs is actively hiring bilingual professionals for its Medellín office. Interested candidates can apply and find detailed position information on TaskUs’s social media @taskuscolombia.

Colombia saw an 8.5% increase in the number of non-resident visitors in the first half of 2024 compared to the same period last year. The main destinations were Bogotá, Antioquia (including Medellín), and Bolívar (including Cartagena).

An analysis by the Economic Studies Office of the Ministry of Industry, Commerce, and Tourism, based on data from Migración Colombia, reported 3,115,341 non-resident visitors in the first half of 2024. This includes 2,144,765 foreign non-residents, reflecting an 11.1% increase from the same period in 2023.

In June 2024 alone, 359,851 foreign non-residents arrived in the country, a 9.8% increase from June 2023.

The primary countries of origin for foreign non-residents from January to June 2024 were the United States (28.2%), Mexico (8.0%), and Ecuador (8.0%). Costa Rica showed significant growth, with a 51.3% increase in visitors compared to the same period in 2023.

Regarding regional preferences, Bogotá received 36.9% of the foreign non-residents, followed by Antioquia (27.6%) and Bolívar (20.1%).

The largest increases in tourist numbers in the first half of 2024 were in Antioquia (25.8%), Bolívar (17.6%), and Risaralda (7.9%).

Minister of Commerce, Industry, and Tourism, Luis Carlos Reyes Hernández, commented on the data, noting the efforts to position Colombia as a major tourist destination in Latin America and globally. He emphasized the goal of making sustainable tourism a key economic driver for the country.

In terms of connectivity, the latest report from Aerocivil, the Civil Aviation Authority indicated that 26,859,000 passengers traveled through the country’s airports between January and June 2024, a 16.8% increase from the first half of 2023. This represents an additional 3,867,000 passengers during this period.

Approximately 16 million passengers traveled on domestic flights, an increase of 12% (1,702,000 more passengers) compared to the first half of 2023.

Foreign direct investment in commerce, restaurants, and hotels reached USD $526 million in the first three months of 2024, a 21.3% increase from the same period in 2023. Additionally, travel-related exports brought in USD $2.536 billion in the first quarter of 2024, a 19% increase compared to the same period last year.

These figures reinforce Colombia’s position as a preferred destination in Latin America, showcasing the country’s cultural, community, and culinary experiences, and promoting non-traditional tourist areas through sustainability, productivity, and respect for nature.

Above photo: Barú beach outside of Cartagena, Colombia by Loren Moss

The American Citizens Services Office of the US Embassy in Bogota invites US citizens in Colombia to a virtual Voting Workshop. The workshop will guide participants through the process of absentee voting from abroad, providing valuable resources and answering questions.

Event Details:

• Date: Tuesday, August 13, 2024
• Time: 12:00 PM – 1:30 PM
• Location: Zoom
• RSVP: Register here

For inquiries, contact [email protected].

Contact Information:

• U.S. Embassy Bogota, Colombia
  • Tel: +57-1-275-2000 or 601-275-2000
  • Email: [email protected]
  • Website
• U.S. Consular Agency, Barranquilla
  • Email: [email protected]
• U.S. Department of State – Consular Affairs
  • Tel: 1-888-407-4747 or 1-202-501-4444

For updates and more information, enroll in the Smart Traveler Enrollment Program (STEP) – https://step.state.gov/