Ecopetrol Considers Natural Gas Imports from Venezuela

Ecopetrol Considers Natural Gas Imports from Venezuela

Ecopetrol Considers Natural Gas Imports from Venezuela

November 27, 2023--Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Colombia's majority state-owned oil company Ecopetrol (NYSE:EC) (Bogota, Colombia) could import natural gas from Venezuela to fulfill Colombia's energy demands and reduce costs. Last week, Ecopetrol said it is analyzing the opportunity, following a meeting between Colombian President Gustavo Petro and his Venezuelan counterpart, Nicolas Maduro, where they discussed stronger energy cooperation.

This effort to import gas from Venezuela plays into Petro's efforts to strengthen relations with its neighbor and push an environmental agenda with natural gas at the center. Since coming to power, he has criticized coal and oil production, and his administration has stopped new exploration licenses.

Other companies featured: Eni SpA (NYSE:E), Repsol and Shell plc (NYSE:SHEL).

Subscribe Now!(All Fields Required)

Standard Membership - Free