Vopak buys into Colombian FSRU


Royal Vopak has bought a 49% stake in Colombia’s LNG import facility, in Cartagena. The company did not disclose how much it paid for the holding, in the statement announcing the move on September 12.


Colombia sees gain in Venezuela’s pain


As neighboring Venezuela collapses, Colombia is hoping to lure oil majors with an unprecedented bidding system: Producers can propose drilling anywhere, at any time, and the country will look into it.

Oil & Gas

Range Resources has Colombia licences revoked


Range Resources said it has been advised by authorities in Colombia that three exploration licences previously awarded to it have been revoked. The company said the National Hydrocarbons Agency in the country had informed them that PUT-5, VMM-7 and VSM-1 had been pulled over claims maintenance commitments had not been fulfilled.

Oil & Gas

Colombia’s Ecopetrol sells over of half of EEB stake for $215 mln


Colombia's state-owned oil company Ecopetrol sold more than half its shares in energy company Empresa de Energia de Bogota (EEB) for $215 million, Ecopetrol said on Monday, as part of its plan to sell assets to fund investments. Ecopetrol said in a statement it sold 352 million shares, 55.1 percent of its interest in EEB, for 1,740 Colombian pesos per share. The shares were sold to a preferential group of employees, retirees, pension funds and unions.


Defeated ex-CFO reemerges to upend Colombia’s privatisation plan


Rodrigo Toro, Isagen’s former chief financial officer, isn’t going to watch his old company be sold off without a fight. The 62-year-old engineer, who led a failed attempt to buy the Colombian state-controlled hydropower producer in 2013, is among a group that successfully sued to suspend the latest auction last month of the government’s 5.3 trillion peso ($2.1 billion) majority stake. The delay has left bidders from Canada to Europe in limbo on a transaction that could have highlighted Colombia’s potential as an investment destination and helped offset slowing economic growth. Instead, it has become a reminder of the difficulty of doing business in the Latin American nation, drawing attention to a legal and administrative system the World Economic Forum ranks below those in Guatemala and Honduras.

Other News

Colombian rebels blamed for power outage after attack on energy infrastructure


Colombian officials are blaming rebels for an attack on the country’s energy infrastructure that left hundreds of thousands of people without power. President Juan Manuel Santos said the guerrillas of the Revolutionary Armed Forces of Colombia (Farc) blew up an energy pylon and blacked out much of the southern region of Caqueta. The blackout affected more than 300,000 people. Mr Santos called it an irrational terrorist act that was counter to the peace process.