Road corridors across the department of Cesar have been blocked since early July by campesino communities demanding something they say they were promised but never legally received: the registered deeds to land that the national government of President Gustavo Petro publicly adjudicated to them. Families who stood at official ceremonies and, in many cases, walked away with adjudication resolutions say that months later they still hold no escrituras (registered deeds) establishing them as the legal owners of their plots.

The gap between the ceremony and the paperwork has left hundreds of rural families in legal limbo over the homes they occupy and the crops they plant. Their central fear is timing. President Petro’s administration leaves office on August 7, when president-elect Abelardo de la Espriella is inaugurated, and the affected communities worry that once the clock runs out, no one will finish titling the parcels handed over in what several protesters have described as largely symbolic acts.

According to Infobae, close to a hundred farmers initially gathered outside the Valledupar offices of the Agencia Nacional de Tierras (National Land Agency), or ANT, the entity responsible for the program. When no officials came out to address them, the group moved to block the department’s main road corridors, halting regional transport. The protesters include campesinos from Cesar, La Guajira, and Magdalena.

A campesino leader from the municipality of Chimichagua, who withheld her name, publicly accused the ANT’s director and two members of Congress — representatives Alexandra Pineda and Nadia Umaña — of handing over land “symbolically and irregularly … generating false expectations in the communities,” according to Noticias Caracol. She said the communities felt they had been used as part of a media event while the documents formalizing ownership never arrived.

“When they carry out those handovers, the mayors are never called in. When they fail to deliver, the problem is left with us, and they block the city.” — Ernesto Orozco, Mayor of Valledupar

The mayor of Valledupar, Ernesto Orozco, placed responsibility on the agency’s management and the absence of its director, Juan Felipe Harman. Orozco said ANT officials had come to the region, handed out some resolutions, and left without completing the legal process, leaving a major social problem in the hands of the municipalities. His administration activated social-dialogue protocols through its security and government secretariats and spoke with the protesters for more than three days, he said, but could not find a single national-government representative in Valledupar willing to meet them.

“Here we are talking about the director of the National Land Agency, whose officials came, symbolically handed over some things, some with a resolution, but they have not given them the titles, and that is what the campesinos are demanding — their land titles,” Orozco said.

The only response, the mayor said, came from Bogota, where an ANT official explained that the agency was in the middle of its institutional handover to the incoming administration and could not send a delegate to Cesar. The agency’s proposed solution was for the farmers themselves to form a commission and travel to the capital. Lacking the resources to do so, the affected families relied on a private citizen, arranged through the Valledupar mayor’s office, to cover the bus fares for five campesino leaders who made the trip to Bogota. Officials warned that the corridors could close again if the delegation returned without concrete answers.

“We are not against agrarian reform or anything of the sort, but let them hand over the titles, or do things the way they should be done,” Orozco said. “When they carry out those handovers, the mayors are never called in. In my case, they did not call me, they did not tell me who received land or anything like that, but when they fail to deliver, the problem is left with us, and they block the city.”

The dispute lands at a moment of unusual instability at the top of the agency. Harman resigned as ANT director in early June to join the presidential campaign of leftist candidate Iván Cepeda, then returned to his post after Cepeda lost the June runoff to de la Espriella. The incoming president has threatened to eliminate the ANT altogether, sharpening the communities’ concern that the titling of their plots could stall in the transition.

The land at the center of the protests is tied to Petro’s flagship agrarian reform program. In its response to Noticias Caracol, the ANT said Harman had met with campesino communities from Cesar and elsewhere and that some titles would be issued during the second half of July. The agency said part of the parcels are properties recovered from the Sociedad de Activos Especiales (Special Assets Company), or SAE, the state entity that manages assets seized through extinción de dominio (asset forfeiture). The agriculture sector’s own tally counted more than 550 parcels recovered across several departments, including Cesar. The plots handed to the Cesar families were formerly SAE-administered properties that the agency acquired for about $1 trillion COP, part of 250 parcels purchased under a single agreement, with a titling process the agency said can take up to seven months but remains in force. Should a plot later face a legal reversal through a forfeiture proceeding, the agency said the parcel would not be taken back from the campesino; instead, the corresponding value would be paid to the former owner or alleged front holder.

Neither Harman nor the ANT’s central office had issued a definitive public resolution for the affected families as of Infobae’s publication. For an incoming administration that has questioned the agency’s very existence, the episode underscores how far a redistribution program can advance politically — through ceremonies, resolutions, and public tallies — while stopping short of the registered title that gives a rural family durable, bankable ownership of the ground beneath it.

The Registraduría Nacional del Estado Civil of Colombia (RNEC), the entity responsible for organizing elections in the country, reported that a total of 14 candidates have officially registered to run in the country’s presidential elections, scheduled for May 31, 2026. In this vote, citizens will elect the President and Vice President of the Republic for the 2026–2030 term.

According to the electoral authority, the candidates represent a wide range of political perspectives, from left to right, including independent candidacies running through political movements. Here the list and brief profile of the candidates:

1. Clara Eugenia López Obregón, currently a senator for the Esperanza Democrática She has served as Minister of Labor (2016–2017), acting mayor of Bogotá (2011–2012), and Bogotá’s secretary of government (2008–2010). She has been affiliated with left-wing parties and was Gustavo Petro’s vice presidential running mate in the 2010 election.
2. Óscar Mauricio Lizcano, from the FAMILIA coalition. He served as Minister of Information Technologies (2023–2025), was a senator (2010–2018), and a member of the House of Representatives (2006–2010).
3. Raúl Santiago Botero, candidate of the “Romper el Sistema” movement (Break the Establishment). An agronomist engineer and businessman from Medellín, he presents himself as an independent candidate with no prior political experience.
4. Miguel Uribe Londoño, father of the slain presidential candidate Miguel Uribe Turbay. He is running under the Colombian Democratic Party and previously served as president of the Centro Democrático party founded by Álvaro Uribe Vélez.
5. Sondra Macollins Garvin, from the movement “La Abogada de Hierro” (The Iron Lawyer) A criminal lawyer and psychologist, she presents herself as an independent candidate without political affiliations. She ran for the House of Representatives in 2022 and is known for her work in narcotrafficking and corruption cases.
6. Iván Cepeda Castro, a senator since 2014 and the official candidate of the Pacto Histórico, the same party as President Gustavo Petro. Polls project he will receive the highest vote share in the first election round. He is aligned with left-wing political ideas.
7. Abelardo de la Espriella, a lawyer with far-right positions, running for the first time under the Defensores de la Patria movement. Recent polls place him as a likely second or third contender in voter preference.
8. Claudia López Hernández, former mayor of Bogotá (2020–2023) and former senator (2014–2018), running under the centrist movement “Imparables con Claudia.” She is known for her anti-corruption agenda and secured her candidacy with more than 570,000 votes (about 9%) in recent interparty primaries.
9. Paloma Valencia Laserna, current senator and candidate of the Centro Democrático party led by Álvaro Uribe Vélez. She won the right-wing interparty primary on March 8 with more than 3 million votes. Polls place her among the top three contenders, and if she reaches a runoff, she would become the first woman in Colombia’s history to do so.

• Sergio Fajardo Valderrama, an academic and mathematician running for the Dignidad y Compromiso He served as mayor of Medellín and governor of Antioquia and is running for president for the third time.
• Roy Barreras, from the political party La Fuerza (The Force). He won the left-wing coalition primary on March 8 with the lowest vote total (257,000 votes, about 3.6%). Although currently aligned with left-wing movements and part of the Petro administration, he has previously been affiliated with right- and center-leaning parties.
• Gustavo Matamoros Camacho, of the Colombian Ecologist Party. He served in the Colombian Army for 43 years. With no prior political experience, his campaign focuses on public security.
• Luis Gilberto Murillo, who served as Minister of Foreign Affairs (2024–2025) and Colombia’s ambassador to the United States (2022–2024). A human rights advocate and Afro-Colombian leader from Chocó, he presents himself as an independent, moderate, centrist candidate.
• Carlos Eduardo Caicedo, running under the independent movement “Con Caicedo.” He was mayor of Santa Marta (2012–2015) and governor of Magdalena (2020–2023), where he built a strong base as a left-wing political leader.

The RNEC also reported that “the draw to determine the position of presidential candidates on the ballot will take place on March 25 at the Ágora Bogotá Convention Center.”

This process marks the formal start of the final phase of the presidential campaign, during which candidates will seek to consolidate support ahead of the first round on May 31. If no candidate secures an absolute majority, a runoff between the two leading candidates will be held on June 21.

List of registered candidates for Colombia’s presidency. Photo courtesy of the Registraduría Nacional del Estado Civil.

Headline photo: Polling station in Colombia during last Congress elections in March 8, 2026. Photo courtesy of the Registraduría Nacional del Estado Civil.

The allocation follows capital discipline criteria and maintains investment levels comparable to projected 2025 year-end figures. Approximately 70% of the total budget ($17.2 trillion COP) is designated for core hydrocarbons operations, including production, refining, and transportation. The remaining 30% ($7.1 trillion COP) is slated for energy transition initiatives, power transmission, and corporate investments.

The 2026 financial model is built on an estimated Brent crude price of $60 USD per barrel and an average annual exchange rate near COP 4,050:1 USD. Under these assumptions, the Ecopetrol Group projects an approximate EBITDA margin of 40%, in line with 2025 levels. Transfers to the Colombian government are estimated at approximately $28 trillion COP. To support these financial targets and maintain debt metrics, the group plans to implement a portfolio rotation program.

A profitability and efficiency program is expected to contribute approximately $5.7 trillion COP, impacting EBITDA, investments, and working capital. This program is structured to support performance in total refining costs and transported barrel costs, while sustaining lifting costs below $12 USD per barrel.

Approximately $1.7 trillion COP is allocated to the company’s “SosTECnibility” strategy, focusing on climate change, sustainable territories, materials and waste management, and occupational health.

Hydrocarbons and Midstream Operations

Investment in exploration and production totals $14 trillion COP, constituting the largest single allocation. This is split with 89% dedicated to crude oil and 11% to natural gas, focused on achieving organic production levels of 730–740 thousand barrels of oil equivalent per day (BOED). Production is anticipated to consist of 80% crude, 15% gas, and 5% white products, utilizing recovery technologies to optimize resources. The strategy involves increasing crude oil output in Colombia to offset natural gas field declines.

The Ecopetrol Group plans to drill between 380 and 430 development wells, with 95% located in Colombia and 5% in the US. The exploration program includes 8 to 10 exploratory wells in Colombia, primarily in offshore, Meta, and Putumayo areas. Gas investments are estimated at $1.5 trillion COP, mainly targeting the Llanos Foothills and offshore areas to develop Caribbean gas, contributing an estimated 105–110,000 BOED.

Transport investments total about $1.5 trillion COP, representing 6% of the budget. The funding is primarily for integrity and reliability projects managed by Cenit, Ocensa, Oleoducto de Colombia S.A.), and Oleoducto del Llano S.A. Transported volumes are targeted between 1,110,000 and 1,120,000 barrels per day.

Refining investments are set at close to $1.7 trillion COP (7% of the budget), targeting reliability, availability, and sustainability at the Barrancabermeja and Cartagena refineries, aiming to reduce product imports and improve fuel quality. Combined refinery throughput is forecast between 410,000 and 420,000 barrels per day.

Energy Transition and Transmission Segment Growth

Interconexión Eléctrica S.A. E.S.P. (ISA) (BVC: ISA), an Ecopetrol subsidiary, is allocated between $6.2 and $6.8 trillion COP in 2026, comprising roughly 26% of the group’s annual budget, with approximately 80% dedicated to its electric transmission business.

For the core energy transition efforts, approximately $0.9 trillion COP (3% of the plan) is earmarked for non-conventional renewable energy and energy efficiency projects. This investment seeks to add approximately 750 MW of clean energy generation capacity from projects in operation, construction, and development.

Renewable Energy Acquisition Moves Ecopetrol Closer to 900 MW Target

In a separate announcement, Ecopetrol confirmed the successful conclusion of negotiations on November 28, 2025, with Grenergy Renovables S.A. (BME: GRE), a Spanish renewable energy company. The negotiations concern the potential acquisition by Ecopetrol of seven solar photovoltaic project companies in Colombia, located across the departments of Córdoba (3), Cesar (2), Magdalena (1), and Sucre (1).

Each of the seven companies owns the assets, licenses, agreements, and permits for a solar project with an estimated renewable energy generation capacity of up to ~12.6 MWp. The completion of this acquisition is contingent upon certain conditions precedent and legal requirements.

Upon closing, the transaction would contribute to Ecopetrol’s decarbonization and energy transition goals by adding installed capacity toward its internal target of 900 MW of self-generated renewable energy. These projects are intended to support low-emission energy generation under competitive conditions for the Ecopetrol Group’s self-consumption, reducing the company’s reliance on bilateral energy contracts and mitigating exposure to spot market energy purchases.

Corporate Governance Changes

Ecopetrol also reported changes to its corporate leadership. During a meeting held on November 27, 2025, the board of directors elected Ángela María Robledo Gómez as Chairwoman and Álvaro Torres Macías as Vice Chairman of the Board. Both individuals were elected to the Ecopetrol Board of Directors in a slate that was “proposed by the government” (President Gustavo Petro’s administration).

Additionally, the company reported the resignation of Independent Director Guillermo García Realpe, citing personal reasons. His resignation is effective as of December 12, 2025. Ecopetrol acknowledged his service to the company during his tenure.

Ecopetrol operates as a key integrated energy firm on the American continent. In Colombia, it is responsible for more than 60% of hydrocarbon production and manages the majority of the nation’s transportation, logistics, and hydrocarbon refining systems. Through its 51.4% stake in ISA, the company holds positions in energy transmission across Brazil, Chile, Peru, and Bolivia, as well as road concessions in Chile, and participates in real-time systems management through XM and the Barranquilla – Cartagena coastal highway concession. Internationally, Ecopetrol has drilling and exploration operations in oilfields across the US (Permian basin and the Gulf of Mexico), Brazil, and Mexico.

Finance Colombia’s executive editor, Loren Moss, sat down for coffee with Rupert Stebbings, the CEO of Alma Air. Stebbings, a longtime contributor to Finance Colombia, brings a wealth of experience to this new venture, including a history in international investment dating back to his time with the Bolsa de Valores de Colombia (BVC) and his role as a former board member of Viva Air.

The discussion focused on this significant milestone from Colombia’s civil aviation authority, Aerocivil, the unique operational challenges of floatplanes in Colombia, and the immense market opportunity for connecting remote and developing tourist destinations.

Finance Colombia: I’m here with Rupert Stebbings, the CEO of Alma Air, a friend, a longtime contributor to Finance Colombia, former board member of Viva Air. You know, I know that you have a long history not only working with investment, international investment, going back to the BVC and before that; but then, of course, your experience with Viva Air. And now you’re heading up this venture Alma Air. And we’ve talked about that before, but you guys have just received your operating certificate from Aerocivil, I believe. Tell me about the significance of this development and give us an update as to where things stand since we last spoke, I think back in February.

Rupert Stebbings: Yeah, sure. Good to be with you, man. We’ve been together a long time, so if you know me a long time, you know my history here. So as opposed to the operating certificate, what do you have? In Aerocivil, there’s various stages, right? And the first stage is kind of a greenlight process. You have a public audience and then they look at the plan, what you’re looking to do, they look at where you want to go, and then they give you the green light, which we’ve got a couple of weeks ago. They say, “Okay, move ahead. Sit down with us, let’s go through everything in detail.”

It’s probably the most complicated stage, stage one. It takes a lot of study and it’s a new product. It’s innovative. So there’s an education process. We’ve now got that green light. So what’s happening? This coming week my team, the pilots, the maintenance guys, the guys who really know how a plane works; they’ll be in Bogotá. They’ll be sitting down with the inspectors looking to get the inspectors appointed in Medellín, Cartagena, to move forward the process. And from there, you’re moving through the stages, it’s a four-stage process, bit by bit by bit. And then by early next year, the planes will be here. Then we check the manuals and all the technical aspects that go with that to make sure it’s absolutely safe and secure.

Finance Colombia: Now, you guys are using Textron (NYSE: TXT) Cessnas for this. What are the specific challenges that come with a floatplane operation? Because not only can these planes land at regular airports, they can also land—and I think that this is what makes your business model unique here in Colombia—they can land in rivers. They can land in keys and small islands, and they can land in areas that are less developed. So what are the technical challenges, and even not just technical, but operational challenges that that brings, along with the advantages of not being tied to, “Hey, there’s no airport here, but we can still service here,” you know?

Rupert Stebbings: No, no. Obviously, there’s a lot of Cessna Grand Caravans already in Colombia doing land to land. They’re a very common plane not just here, but in the whole world. What are the challenges? Well, the challenge is it’s a completely new product. It might exist in the Bahamas, Alaska, Vancouver, Australia, wherever you want to go. Whilst they were here 100 years ago, they haven’t been here for a long time. So what do you have to do? Like you mentioned, they can land on the sea. They can land on the sea, the lakes, on rivers. But it has to be done safely.

These airlines, these planes… seaplanes have got a tremendous track record in terms of security. We want to maintain that. So we have to sit down with the local authorities. There was a test flight carried out by another party down in Ayapel a few weeks ago. And it’s precisely for that. Aerocivil was there, they were on the plane. What are you checking? You’re checking where you’re landing. Is it safe to land? Are there people in the water? Are there boats? Are there jet skis? How is the mooring? How is the pier? Is it safe? Is it big enough? Is it away from boats? So a lot of it’s to do with security.

We know that these planes are environmentally very clean, so we don’t worry about that. But we do worry. And obviously, as an innovative new product and being pioneers in this, we need to make sure we get it absolutely spot on. And that wherever we land, wherever it is in Colombia, it’s done safely, securely, and that everyone locally knows exactly what’s going on and the benefits that come with it.

Finance Colombia: What have you seen with regards to the reception? The last time that we spoke on this, it was at ANATO back in February in Bogotá, and that’s the tourism industry convention. What has been the reaction of hotels, of tour operators, of the agencies, of the package promoters and the industry in general, when it comes to this kind of, innovative for Colombia, mode of transportation?

Rupert Stebbings: Yeah, pre the 2024 public audience, I spent a lot of time on the coast: Cartagena, Barranquilla, Santa Marta, all around the coast, Mompox, Magangué. And the reception was incredible. Public sector, we sat down with the mayor’s office, tourism, secretaries. But then we sat down with the private sector, hotels, agencies. Everyone wants in, everyone wants a new product. Why? Everyone knows that Colombian tourism is booming, but now everyone’s looking at different types of tourism, a ‘better tourist’, for want of a better phrase.

We’ve seen the cruises, AmaWaterways in the Magdalena River, starting in April, 48 cruises a year. And now are going to double that this month. They’re getting a second boat because the top-end tourists, there’s so much demand to come to Colombia. We want to be part of that. And that’s why it’s been well-received. Now, since the public audience, what’s happened is we’ve been called from all over the country. We’ve had Los Llanos, I’ve been down to the Amazon, Bahia Solano. Can we go there? Here in Medellín, Guatapé, which isn’t far from here. I’ve been and sat down with Guatapé, I’ve sat down with the mayor’s office, I’ve sat down with the city, with the town council. And they, too, want to push ahead because the connectivity from Bogotá to Guatapé can be an hour. It’s about four hours now if you want to go El Dorado to Rio Negro. Or Medellín, downtown Medellín, to get there to Guatapé. There were 3.7 million tourists in Guatapé last year. It’s a huge number. When you look at Mompox, which is 84,000, there’s massive numbers, more and more foreigners want to go there, and tourists. But right now, on a ‘puente’, a long weekend, it’s three or four hours. In a nice car, but it’s three or four hours. We can get you there in 10 minutes from downtown Medellín. So the minute we went public with this, everyone’s called us and the reception has been, I can just say, unanimously positive.

Finance Colombia: That’s impressive, especially when you think about- I mean, Guatapé, for example, from here, it would be an hour drive, but it’s more like a two-hour drive because of traffic. And this is a way to avoid that by operating these Cessnas. You can operate out of Olaya Herrera instead of having to come out of here. I think about places that are under development, like Coveñas, for example. They’re expanding Tolú, but up until now, you have not been able to get in there with a traditional 737 or A320 or something like that. The other islands and the islands that are outside of Cartagena that have been becoming more and more of a tourist draw.

Tell me financially, if we talk about from the investment perspective, you know, you guys are stable, you guys have experienced investors, but I believe that there is still opportunity. Tell me about what your goals are. Obviously, operationally, you need to go through the steps to become an operating functional airline. You’re backed by experienced investors that have not failed globally but have a track record of success around the globe when it comes to airlines. This is kind of a new and viable, but very fun project, I think. But tell me about the opportunity and the gap and the need there for additional partners when it comes to looking at bringing this project to fruition and supporting it in the future.

Rupert Stebbings: Yeah, I think over the next six months, there’s three phases. One, as you mentioned, the technical aspects of Aerocivil, which is so important. Number two, commercially, continue to build contacts, look at new locations, destinations. But number three is this: as you know, our backers have been all over the world, many places. But what we’d never pretend to be… I’ve been here 20 years, but I wouldn’t pretend to know Colombia inside out. Every time I go to the coast, or I go somewhere, somebody’s got a new idea. “Have you been to this place, or this lake’s got a beautiful eco-hotel.” We can’t get there.

So every time they tell me to go somewhere, there is new know-how, and our preference would be to have a partner, for sure. We’ve got a lot of friends we’re working with overseas who are already in the seaplane business all over the world. We speak to people in every continent on this. But also locally, Colombia is a country apart. It’s a country with a huge, huge opportunity. It’s a big country. And honestly, it would be great to have somebody alongside us, sat down with us saying, “Hey, have you thought about this? Have you done this?” As I say, we don’t pretend to know Colombia inside out. It’s an amazing country. Everyone knows that every time you see an article anywhere around the world, Colombia gets a mention. The best for this, the best for this. Pension, live, digital nomads, but also for tourism. The numbers are going through the roof.

And I think everyone, whether it’s us, an agency, a hotel, everyone’s looking for more and more know-how, more knowledge. And the more people you have inside the tent, the more people you have helping you, the easier it is to move forward, to make good decisions, and make the most of the opportunities that definitely are here. And so, you know, we’re looking for a partner, whether it’s overseas, that’s fine, whether it’s local, great as well. But we’re definitely looking for people to come on board and join us in this project, which is, as we know, it’s innovative, it’s new, it’s tremendous excitement. And if somebody wants to share in that, you know, we’re open to a conversation.

Finance Colombia: You know, I think the great thing is that intellectual humility, of not coming into a place and saying “we know everything.” And if I think about the track record of some of the investments, the investors, they go into Mexico, they partner with a local company that made things a success. They go into places like Singapore. They go into places like the U.S., and they’ve done that. And even before with Viva, every place that they’ve done that has been a success, because they’ve bought in the local intellectual capital, as well as financial capital participating, so that the local economy has a stake in things. It’s not like, “Hey, we’re from the outside and we’re just going to do things.” In other sectors, in mining, I’ve seen the companies that do it right, they follow that model. They bring in people, not like the old model that we saw in Asia, where it’s like, you’ve got to bring in a local partner so that they can screw you. Like we would see, you know, 40 years ago in India, or in a lot of places like, you’ve got to have a local partner for capital controls and things like that.

No. Colombia, as you know living here, one of the great things about Colombia is that legally we’re treated on an even par as… you know, there’s no difference. And I can speak to this having been a business owner in Colombia, you’re not treated any differently. You have no disadvantage in the local system being a foreigner. And I think that that makes it, whatever the flaws are and whatever the drawbacks are, that makes it a very safe place and an advantageous place for investment.

Rupert Stebbings: Yeah, I worked in the financial sector for decades in Asia. In Asia, it was exactly that model. We’ll parachute in and it’s us. We’ll only use the local because we need their license. So they didn’t take on as much local know-how intellect as they did. Well, that’s changed over the years. And in this sector in particular, if you look at the tourism sector here, there’s tremendous influence amongst the hotels, the agencies, from overseas. But they are all using local know-how, the people on the ground in general or locals, and we want to be part of that. As you say, I wouldn’t be absolutely stupid to come into a country with a new product, a product that was here from 1919. I turn up in 2025 saying I know all about that. No, there’s people who know, there’s people have been around. This airline sector is one of the oldest in the world. So local knowledge, I think, is fundamental.

Finance Colombia: And even in 1919, the industry was started by Germans who came in here and did it and they were able to be successful. And then the airline evolved and went through iterations and became kind of the national flag carrier of Colombia. But I think that it speaks to the friendliness that Colombia has towards investment. And the thing that you mentioned is that these people are real partners. They’re not agents that, “Oh, I need to have a license, or I need to sign off this checkbox on some kind of license form.” But these are real partners who are involved and things like that.

Rupert Stebbings: Absolutely. I couldn’t agree more. And you know, I’ve done a lot of research and written on Colombia, but even agent people at the World Bank, they’ll put Colombia in the top 15 countries in the world to invest for the protection of your rights when you come here, because you’re looked after when you come here, because the country wants to develop, wants to move forward, and they look after you when you get here. And I think that’s fundamental.

Finance Colombia: Absolutely. I mean, you know, I’ve been here for 11 years. I’ve never seen a form or any kind of government document that differentiates between, “Okay, check this box” or “you can’t do this because you’re a foreigner.” And Colombia is great when it comes to that. Now, let’s look at- going back to operations. What has to happen before Alma Air is flying routes, scheduled routes with passengers? Now, I know that in the U.S., you know, we had like Part 91 aviation, 132 aviation and things like that. And there’s one thing that’s a scheduled airline, there’s another thing that’s like a charter airline, and then there’s, you know, general aviation. Is the set up the same way here? And whatever the case might be, what has to happen and how far away are we from booking tickets to fly on Alma Air?

Rupert Stebbings: Okay. So, we’re going to work as an air taxi, charter, no scheduled flights. Which is similar to other countries. Most companies and seaplanes work on that basis. You call me, you tell me what you want. Obviously, we’ll have a menu: this is what you can do, call me when you want to do it, who you want to do it with, etc. So that’s how it’ll work. 100% charter air taxi, as it’s mentioned here. What do we have to do? As I mentioned, the guys are in Bogotá this coming week. They’ve got to sit down, and the aforementioned paperwork, which is the same for everybody, we need to fill in a lot of paperwork. We need to go through the manuals, which are done, but there’s something like 50+ manuals for seaplane operation. So they need to be doing a page turning, go through it. Because it’s new, right?

And also, there’s regulation. We’re also working with DIMAR, which is the coastal authority, and the internal authorities, and the environmental authorities to make sure that everyone’s on board the regulation, everyone understands the rules. So I’m going to put a plane there. What needs to be there? Who needs to be aware of it, etc.? So there’s an awful lot to be done through Aerocivil, DIMAR, and the authorities. In parallel, we’re speaking with the lessors overseas to sort out the planes, the arrival times, and then that will be going through the Christmas period into January. And then by the end of the first quarter next year, we should be seeing planes arrive here to then go through the same paperwork. You can’t just bring it here and fly it around. [Laughs.] ‘Hey, I’m here, I’m just going to fly around.’ No, not at all. We’ll bring it here, the plane has to be checked over, everyone needs to be on board. Then hopefully within around probably less than six months, you’ll be able to call me up and say, “Hey, I want to take the family and do this and this,” you know, whether it’s to go to a hotel, you want to do a sightseeing trip, you want to go to a couple of lakes in a day, you let me know and we’ll get in touch and we’ll sort you out.

Finance Colombia: Amazing. You know, I’m looking forward to it. I’m not the high roller who’s going to be like, “I want to go to a couple of lakes.” But hopefully there will be some kind of group travel opportunity and things like that over the weekend.

Rupert Stebbings: But the thing is, everyone talks about… Every time I do an interview with the press it’s, “How much, how much you’re going to cost?” “Yeah, it’s going to be really expensive.” No. Colombia is full of charter planes already. It’s already full of private planes. And I would say the price point of this is the same as you doing something special for your anniversary. You know, you want to do something special, let’s fly somewhere and go to a spa for a couple of days in a hotel, for example. We’re in that price point. We’re not in a ridiculous point. And the one thing you’ll be buying from me is time.

And that’s the key. If you’re in Bogotá, you want to go to Guatapé for a beautiful weekend and a beautiful hotel, then you don’t need to spend five hours getting there, five hours getting back. I’ll get there in one hour. So you can buy four hours for you, or three hours on the way, three hours on the way back. That’s six hours. Plus, your partner, that’s 12 hours. You get more time at your resort and not at a huge increment in price.

Finance Colombia: And, you know, the Grand Caravans have a capacity of what, like 12 or something like that?

Rupert Stebbings: It’s eight passengers plus pilot and copilot. That’s one thing we push very hard for. You’ve got to have a copilot and pilot. That’s not global, but that’s what we believe, definitely, in terms of security. Then you got the eight passengers. These planes will take up to 14 seats, but we’ve checked around the world and the most successful seaplane companies are using the eight planes. Why? Because if I’m going somewhere in a seaplane, I want to go somewhere real nice and spend a few days, I don’t want to go there with a backpack. Comfort and what I take with me.

Finance Colombia: You know, that’s a good point. My cousin, for example, runs a charter service out of Miami and he services the Caribbean. He has a Learjet and a King Air. And I remember talking to some of his passengers one time in the Bahamas and talking to him; and it’s not that the people are rich. I mean, they’re not poor, but they’re not like super rich where they’re going to fly to St. Bart’s on a private jet. But what happens is, one of the passengers explained to me, they’re mostly like avid fishermen, anglers. And they’ve got to carry all their rods and all that stuff like that. And they explain this, “Look, this is a family trip for us, and there are six of us. And by the time I pay for six airline tickets, it’s actually less expensive to fly on this charter.”

Rupert Stebbings: And the bags, and the extra bag, and the extra length luggage. When people say, “It’s going to cost me this.” I’m like, “No, it’s actually going to cost you this, because you were going to pay this. But I’m going to charge you on top for the convenience.” So it’s not an extraordinarily expensive thing to do. But that’s education, that’s the education process. And the fact that it’s so common; if you go to Vancouver, people commute to work on a seaplane. So it simply doesn’t add up that it costs you thousands of dollars just to go one way. Of course it doesn’t. But again, this is part of the education. I think in time people will come to see “this is something I can do with my family.” And hopefully we’ll fill the skies here with seaplanes, which should be great.

Finance Colombia: I would imagine that there’s also a market for things like air ambulance. Colombia has so many remote areas, there are cities in Colombia that you can only get to by river or by air. And, you know, we just published an article about the high quality of Colombian health care in places like Cali and Medellín and Bogotá. But to get people who need, you know, urgent or unusual operations or have conditions and things like that. You guys can play a vital link in that process as well.

Rupert Stebbings: Of course. It would be a second stage. But already the authorities have manifested interest in what can be done. We looked at a study in 2021, there were thousands upon thousands of air ambulance trips in one year in Colombia, from remote areas in. And they’re not using air ambulances; they’re just putting them into normal charter planes in an emergency. So that’s definitely something we looked at. The authorities are interested; the security forces are interested. You know, as you say, most bad things in Colombia take place in remote areas. Whether it’s military, whether it’s a car crash, whether it’s a heart attack on a remote island. But as we know, as you mentioned, Colombia’s got a tremendous medical system, but it’s concentrated in the main cities or even the big towns. So if you’re in a place, you don’t have to be far away to be hours and hours away. You know, if you go from Colombia to Mompox, to pick an example, you’re talking five or six hours in a car, no mainstream hospital. There’s a hospital in Magangué. But I’ve spoken to many people in Cartagena in clinics who do evacuations, and they say, “No, almost all the cases come into Cartagena or Barranquilla.” So if we can help in any way, we’re definitely there to do that.

Finance Colombia: That’s amazing. Now, is your website up and running? If interested, if people want to get in touch with you all, do they go through your website or what are the methods that you recommend?

Rupert Stebbings: Yeah, flyalma.com, up and running already. It already gives you a good indication of services, destinations, the routes we’re going to use… It’s got the history as well of seaplanes, which is very important to get into, who we are… So then go in there, look at all the information, the contact information is there, we are on LinkedIn or on Instagram. So you can find us, that’s not a problem at all. So you get in touch with us and we will definitely be there to respond ASAP.

Finance Colombia: Is there anything that you wanted to mention that I neglected to ask?

Rupert Stebbings: No, I just think that a lot of people I think have been wondering why it’s taken so long, or longer than expected. But I think you have to be respectful with the authorities. This is something new. And every time you get a new product, they’re very careful about bringing something new to Colombia. People don’t understand. When they did the seaplane test in Ayapel, the members of Aerocivil had never been on a seaplane. So the people at the very top running the airline services, they don’t know what a seaplane is, other people don’t. So it’s very important. And we’re going to isolated places, where they’re not used to these kinds of services. They’re not even used to seeing airplanes, etcetera, or even many tourists. So there’s a big education process. We’re working, obviously, with the Ministry of Commerce and Tourism, FONTUR. So we’ve got a lot of partners. It’s taken longer than desired by anybody, but we’re getting there. And now I feel there’s been a definitely a pivot of the last few months in terms of, “let’s get this done and let’s get this done as soon as possible.”

Finance Colombia: Great. And one of the things that I think I’ve seen, no matter what administration, you know, I’ve been here 11 years, I think you’ve been here longer, is that there is—and this is not a right or left thing—but there is a consensus that tourism and especially things like nature tourism and sustainable tourism are a strategic path to not only pacifying the country… and we talk about terms of peace. We talk about terms of sustainability, not places that are over-touristed, but to really develop and to bring tourism to these, maybe up until now off-the-path areas that you guys will specialize in. So I think that there is a comfort, I should say, in that no matter what happens politically, that remains a priority no matter who is controlling the reins of government.

Rupert Stebbings: No question at all. And in the webpage, we even refer to that. And we also refer back to one year ago, COP16 in Cali, where USAID, which unfortunately is no longer with us, but they mentioned “Colombiamorfosis,” which is this program of getting tourists in new areas. And we’ve been to visit new areas. In Ayapel, we met with the governor of the Zenú people in Cecilia, which is the town they have there. And we’re looking to connect these new areas, and we’re getting approached all the time. Communities are saying, “Look, we’ve got amazing wildlife, birdlife, we’ve got walks you can do in the jungle. We can take boats across lakes.”

And so what we want to do is connect them, because according to the UN, and the Petro government has backed up on this, the fastest return on investment to get people out of poverty is through tourism. It’s a UN program. The UN tourism director is actually Colombian, Natalia (Bayona), who lives in Madrid. So we’ve been in touch with her. And again, we’ve seen tourism booming. It’s been a big bet of this government, no question. It’s been successful. But I’m absolutely sure whatever government comes in now, tourism is the way to go. It’s a way to get to remote areas and connect overseas tourists or local tourists who have the money with needy communities. And between them, you can make the connection and take some of these communities out of poverty and give them a little more dignity.

Finance Colombia: I’m super excited for you all, of course, as an organization and as people. I know a lot of you are involved in this. But then also for Colombia, because of the positive benefit that it can have for Colombia. Again, I think it’s a win for you all as an organization, it’s a win for Colombia as an economy and as a people, and it’s a win for whatever financial and commercial partners that are involved in this. And so I’m super optimistic. I can’t wait for my first ever seaplane flight. I know that airlines love to have these inaugural flight things- And I’m going to be mad if I see it in the news and I didn’t hear from you [Laughs.] Yeah, you’re going to be waving down from me from up the final approach right here, right? So I’ll be calling you on WhatsApp there. But thanks a lot for your time, Rupert. Always fun to talk to you guys, again, thank you also for your contributions as an individual. And you wouldn’t say this, but as an expert. It’s more fun because I don’t always agree with you, and that makes me nuts sometimes. But it makes it fun, you know. And so can’t wait till the next time. Keep us updated and count on us to keep the public posted on what’s going on at Alma Air.

Rupert Stebbings: [Laughs.] We’ll wave. No problem, it’s alright. [Laughs.] That’s life! Great, man. Thank you for your time, and I will see you on board in some place you didn’t know you could get to. Cheers, man. Take care.

This value also represented more than half, 52.7%, of everything that Colombia sold to the world in those six months.

“The behavior of what the country exported in the first six months of the year in products other than oil and coal, ratifies not only the behavior that non-mining exports have been registering for months, but also that step by step we are advancing in the transformation of the productive fabric and the diversification of the export basket. From the commerce, industry, and tourism sector, we continue to provide entrepreneurs in the regions with all the instruments and institutional offer to guarantee the sophistication and expansion of the offer,” said the Minister of Commerce, Industry, and Tourism, Diana Marcela Morales Rojas.

In volume, shipments also continue to increase. Between January and June, there were 5.1 million tons, for a growth of 9.6% compared to the first half of 2024. Within the non-mining basket, the exports that had the greatest weight in the period of analysis were those of the agricultural sector, which accounted for 43.7% ($5.615.9 million USD) and grew 36%.

Products such as coffee stand out, whose exports in the 6 months grew 81.3%; flowers, 9.9%; bananas, 6.2%; Hass avocado, 27.6%; Tahiti lemon, 15.7%, and gulupa, 23.3%, among others. The second most representative group of products of exports of non-mining goods in the period was industry, which participated with 40.8% ($5.252 million USD) of this basket and a growth of 5%.

Exports of aluminum doors, windows, and their frames stood out, among others, with an increase of 9.5%; insecticides, 18.8%; electrical transformers, 12.9%; medicines, 9.3%; and beauty preparations, 3.7%. Products from the agribusiness sector, which accounted for 15.5% ($1.989.7 million USD) of the non-mining energy export basket, registered an increase in sales of 37%.

Products such as palm oil, whose exports grew 64.1%; coffee extracts and essences with an increase of 45.7%; sugar, 14.3%; cocoa and its derivatives, 87.3%, and bakery products, 8.7%, among others, boosted the sector’s performance.

90.4% of exports of non-mining energy products were made from nine Colombian regions: Antioquia, from where they grew 25.9%; Bogotá, which increased 16.5%; Cundinamarca, 16.5%; Valle del Cauca, 14.8%; Atlántico, 6.6%; Bolívar, 9%; Caldas, 47.3%; Magdalena, 45% and Huila.

The latter was the one that reported the highest increase, with 50%. Its non-mining foreign sales totaled $624.2 million USD in the first six months of the year, marked by coffee.

In June alone, the country exported $2.112.6 million USD in non-mining products, which represented an increase of 20.4%. In volume, 774,248 tons were shipped for an increase of 9.6%.

Avocados. Photo credit: JohnyVid from Pixabay.

This is clear from the analysis made by this ministry based on figures published by DANE, which establishes that non-mining energy exports grew 22% compared to the same period in 2024. And if the volume shipped is reviewed, it was 4.32 million tons for an increase of 9.6% compared to January-May 2024.

Within the basket of non-mining energy goods, those with the greatest weight are industrial goods, which accounted for 55.9% ($6.011.2 million USD) and grew 12.2% in 2024. Those in the agricultural sector participated with 43.9% of that basket and increased by 37.2%.

In the period of analysis, when evaluating the main export products of the non-mining pie, several contributed to boost this growth. The following stand out: coffee, whose foreign sales increased 89%; palm oil with 63.7%; coffee extracts with 36.8%;hass avocado with 24.7%, and polypropylene with 21.9%.

Likewise, beauty preparations had an important behavior and contributed to growth, 6.3%; flowers, 5.7%; bananas, 5.4%; electrical transformers, 4.7% and doors, windows, and their frames, 4.3%, among others.

By regions

About the 9 departments that export the most non-mining energy goods and that represent 90.5% of this basket, all registered increases in their sales.

In the case of Antioquia, which is the department that has the most weight in this type of foreign sales, it registered a growth of 24.8%; it is followed by Bogotá with 15.4%; those of Cundinamarca grew 15.9%; those of Valle del Cauca 16.2%; those of Atlántico 5%; those of Bolívar 10.7%; those of Caldas 44.2%; those of Huila 72.3% and those of Magdalena 44.1%.

Coffee from Colombia. Photo credit: Ministry of Commerce, Industry, and Tourism (MinCIT)

According to data from Migración Colombia, the main destination departments for international visitors were: Bogotá, 34.84%; Antioquia, 25.65%; Bolívar, 20.56%; Valle del Cauca, 4.71%; and San Andrés and Providencia, 3.35%.

Other departments such as Atlántico, Magdalena, Norte de Santander, Risaralda and Santander also showed a prominent participation in the flow of travelers.

Connectivity and hotel occupancy rate

In terms of air connectivity, during April 2025, 4.36 million passengers were mobilized on scheduled flights, which represents a growth of 3.1% compared to April 2024 and 27% more than in April 2023. In the same month, the number of arrivals on international flights increased by 10.6% compared to the previous year.

In the cumulative period from January to April 2025, 17.98 million passengers were mobilized, registering an increase of 3.4% compared to 2024 and 21.4% compared to 2023. International arrivals in that period also grew by 8.8%.

According to Colombian statistics agency DANE figures, the occupancy rate in tourist accommodation for April 2025 was 46.8%, a behavior similar to that recorded in the same month of the previous year, which reflects a sustained recovery of the sector.

The Colombian government, through the Ministry of Commerce, Industry and Tourism, states that it has prioritized the strengthening of tourism as an engine of economic development, social inclusion and international projection. Through ProColombia, MinCIT has approved international promotion actions worth more than $188.376 million USD, aimed at consolidating Colombia’s image as a reliable and attractive destination.

Plaza Bolivar in Bogotá, Colombia. Photo credit: Makalu from Pixabay.

Between January and March of this year, the country exported $6.140 million USD in these products (agro, agro-industrial, and industrial), a growth of 23.5% compared to the same period in 2024 when these sales reached $4.970.7 million USD.

They also increase in volume. In the first three months of this year, the country shipped 2.3 million tons to the world, which meant a growth of 6%, compared to the same period in 2024 when 2.2 million tons were shipped.

One of the strategies of the foreign trade policy of the Government of Change in which we work is to facilitate instruments and programs for the sophistication, diversification and promotion of the export basket, this through the assets of the Ministry of Commerce, Industry and Tourism, in such a way that the expansion of the national supply is guaranteed. Especially non-mining energy goods.

The analysis of the Ministry of Commerce, Industry and Tourism indicates that, in the first quarter of this year, although industrial goods – including agro-industrial goods – accounted for more than half (54.5%) of this type of sales and grew 12.9%, it was agricultural products, which weigh 45.5%, that most boosted the behavior of non-mining exports. With a growth of 39.4%.

In this way, there were several products that helped to drive the growth of these sales. There are, for example: coffee, which registered double sales than a year ago and increased 100.8%; coffee extracts with 47.6%; palm oil, 29.3%; insecticides 22.1%; polypropylene, 21.3%; beauty preparations, 17.9%; various fruits, 17.7%; polychloride, 14%; electrical transformers, 11.6%, and flowers 9%, among many other products.

The departments

The nine main product export departments, which represent 89.9% of this basket, registered growth, some more than others.

Among those that registered the highest growth, and that have the lowest participation, were Huila with a positive variation of 82.9%, marked by coffee. Caldas registered an increase of 65.6%, also driven by coffee and coffee extracts and essences, mainly.

Magdalena’s non-mining exports increased 35.8%, marked by vegetable oils. Antioquia, which is the second department with the highest participation, after Bogotá, reported an increase of 24.5%, led by coffee and flowers.

Finally, among the 10 main destinations for this class of products, those that increased the most were Canada with 72.6%, Germany, 64.6%, Venezuela, 37.3%, Belgium, 32.8%, and the United States, 29.4%.

Photo credit: MINCIT.

The value exported in the first four months of this year registered an increase of 23.5% compared to January-April of last year, when $6.851.5 million USD were exported. In volume, 3.3 million tons were shipped, which represented 9.8% more than a year ago.

The different entities attached to and linked to the Ministry of Commerce, Industry and Tourism provide and make available to entrepreneurs instruments and programs to support them in the sophistication and diversification of the non-mining export basket, with goods of greater added value. Likewise, work is being done to expand the markets for these products.

According to the ministry’s analysis, within the non-mining basket between January and April, the sector that had the highest growth was agriculture, with 41.32% compared to a year ago. The amount exported reached $3.786.9 million USD.
Among the products that helped drive growth in the period are coffee, with an increase of 96.9%; gulupa, 39.3%; Hass avocado, 16.7%; flowers, 9.5%; Tahiti lemon, 8.6%; and bananas, 6.2%.

For its part, exports of industrial products totaled $3.399.3 million USD and grew 5.3% compared to the previous year. Exports included goods such as: perfumes and toilet waters, which grew 18.4%; insecticides, 16.1%; electrical transformers, 13.4%; beauty preparations, 7.8%; plastics and their manufactures, 7.1%, and doors, windows, and their frames, 3.2%.

In agribusiness, foreign sales reached $1.277.2 million USD for an increase of 35.6%. Among the products of this sector that contributed to the result of the non-mining basket with their exports are, among others: cocoa and its preparations with an increase of 114.5%; palm oil, 67.6%; beverages, including water and alcoholic beverages, 47.9%; coffee extracts and essences, 39.1%; bakery and pastry products, 14.5%, and sugar, 7.4%.

By region

The main 10 departments from which non-mining goods are shipped to the world, which, due to their participation in this basket, represented 93.2%, and within these, the one that registered the highest growth in these foreign sales in the period of analysis was Huila with a variation of 83.8%. This region accounts for 5.4% of these exports.

It was followed by Caldas, whose non-mining foreign sales increased 53.9%. This department has a share in this group of 5.4%.

The third-highest growth of this top 10 is in Magdalena with a variation of 48.6%, which represents 4.7% of the country’s non-mining energy basket.

It was followed by Antioquia with an increase of 26.4%. This, together with Bogotá (whose exports grew 17.8%), is the main origin of non-mining foreign sales. In the period of analysis, these regions accounted for 19.3% each.

Photo credit: MINCIT.

The companies are owned by Statkraft’s subsidiaries: Enerfín Sociedad de Energía S.L.U and Enerfin Enervento Exterior S.L. The portfolio’s projects are located in the departments of La Guajira, Sucre, Córdoba, Caldas, and Magdalena.

If completed, this acquisition would represent significant progress toward Ecopetrol S.A.’s decarbonization and energy transition goals, particularly the target of incorporating 900 MW of renewable self-generation capacity by 2025, in line with its 2040 Strategy. Additionally, the transaction would support the generation of low-emission energy under competitive conditions for the Ecopetrol Group’s self-consumption, reducing exposure to spot market purchases and contributing to the diversification of the company’s energy matrix.

Photo credit: Ecopetrol/Flickr.