12/13 Closing Prices / revised 12/12/2024 21:59 GMT |  12/12 OPEC Basket $73.36 +$0.91 cents 12/13 Mexico Basket (MME)  $66.23 +$1.02 cents   10/30 Venezuela Basket (Merey) $58.30   +$3.39 cents  12/13 NYMEX Light Sweet Crude  $71.29 +$1.27 cents | 12/13 ICE Brent  $74.44 +$1.08 cents | 12/13 Gasoline RBOB NYC Harbor  $2.0 +0.07 % | 12/13 Heating oil NY Harbor  $2.27 +0.05 % | 12/13 NYMEX Natural Gas   $3.28 -5.1% | 12/13  Active U.S. Rig Count (Oil & Gas)  589 + 7 | 12/13 USD/MXN Mexican Peso $20.1257 (data live) 12/13 EUR/USD Dollar  $1.0501 (data live) | 12/16 US/Bs. (Bolivar)  $50.33190000 (data BCV) | Source: WTRG/MSN/Bloomberg/MarketWatch/Reuters

Gustavo Petro Seeks Deal to Let Ecopetrol Produce Venezuelan Oil and Gas

    Gustavo Petro visits Caracas after tension flared last month
    Deal would let Colombia export clean electricity to neighbor
Gustavo Petro visits Caracas after tension flared last month. Deal would let Colombia export clean electricity to neighbor. Gustavo Petro (Bloomberg)

Fabiola Zerpa, Bloomberg News

CARACAS
EnergiesNet.com 04 11 2024

Colombia is working on a deal to produce oil and natural gas in Venezuela, President Gustavo Petro said following a trip to Caracas. 

State-controlled Ecopetrol SA could develop “high quality” oil and gas in western Venezuela under the agreement, while Colombia could export clean energy to its neighbor, Petro said Wednesday, in a video published by the presidency.

Petro flew to Venezuela on Tuesday for his fifth meeting with President Nicolás Maduro since 2022. The trip was preceded by friction between the two allies, after Petro last month criticized Maduro’s government for blocking the main opposition leaders from the presidential election in July. 

Petro said the oil and gas would be developed in Venezuelan fields near the Colombian province of Norte de Santander, while electricity would be provided from La Guajira province on Colombia’s Caribbean coast.

Petro was elected in 2022 on a pledge to phase out fossil fuels, and his government has declined to award exploration licenses to oil companies. 

Read more: Dirty Venezuelan Fuel Imports Threaten Petro’s Green Credentials

Colombian exports to Venezuela will reach $1.2 billion this year, while imports will be between $200 million – $300 million, Petro said. A bilateral commission for food exports, via Colombia’s Meta river, will be up and running soon, he added. 

After taking office in Colombia, Petro immediately patched up the acrimonious relationship between the two countries, restoring diplomatic ties and reopening the border. 

Earlier, Petro said in a post on X that he had met with opposition leaders, without saying which one. In a subsequent post, he said Colombia would be prepared mediate in Venezuela’s political conflict.

bloomberg.com 04 10 2024

Share this news


 EnergiesNet.com

About Us

 

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas,
Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com


CopyRight©1999-2024, Petroleumworld.com
, EnergiesNet.com™  /
Elio Ohep – All rights reserved
 

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the materia