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During 2020, Latin American oil and gas companies' profitability is expected to decline to one third of 2019 levels, while cash flow is expected to remain under pressure through 2021 as recovery will likely be protracted, according to a new Fitch Ratings report.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced last week the Ecopetrol Group’s financial results for the first quarter of 2020, prepared in accordance with International Financial Reporting Standards (IFRS) applicable in Colombia. Table 1: Financial Summary of Income...

The Colombian government has clarified that foreign trade (import/export), agriculture, energy and mining activities may continue during the mandatory Coronavirus COVID-19 Curfew now in effect.

Medellín’s new mayor Daniel Quintero appointed attorney Álvaro Guillermo Rendón López as the new general manager of Colombia’s largest utility company Empresas Públicas de Medellín, or EPM. Rendón was installed on January 2, replacing outgoing engineer Jorgé Londoño De La Cuesta,...

On Bogotá’s famous Avenida Séptima (7th Avenue) in Colombia, about where it connects with 76th street near the Russian Embassy, a large mural was painted on a wall. The mural, since painted over, was graffiti art in opposition to “Fracking,” or Hydraulic Fracturing. Known within...

According to ratings firm Fitch, Half-cycle costs for Latin American oil and gas companies increased only slightly in 2018 by 3 percent, versus an 11 percent increase the prior year, according to a new  report the firm issued. “The 2018 increase was caused by higher lifting...

Moody’s Investors Service has affirmed the Baa2 issuer rating of Interconexion Electrica S.A. E.S.P. (ISA). (OTCQX: IESFY) (BVC: ISA) At the same time, Moody’s revised the outlook to stable from negative. This action follows Moody´s recent rating action on the...

Colombia’s house of representatives approved as part of its National Development Plan last week, authorization for the Ministry of Mines & Energy to study the possibility of introducing Hydraulic Fracturing, nicknamed “Fracking,” in Colombia. The unconventional petroleum and...

The Regional Association of Oil, Gas and Biofuels Sector Companies in Latin America and the Caribbean (ARPEL) has announced last week its signature of the statement of support to the Women’s Empowerment Principles promoted by UN Women and the United Nations Global Compact....

PentaNova Energy has an 80% “beneficial working interest” in the Maria Conchita block.