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COLOMBIA: Petro Says Would Applaud if Trump Ends FTA with Colombia

COLOMBIA
BulletEM BulletEmerging Market News
  • President Gustavo Petro said he would “applaud” US President Donald Trump if he decides to end the free trade agreement between both countries, citing that Colombia loses more than the US with the FTA, unlike Mexico, speaking in a webcast speech.
  • Bloomberg have reported that Ecopetrol plans to develop two facilities to import LNG which, when ready next year, will cover up to 26% of national demand, according to CEO Ricardo Roa speaking in an interview. He added that imported gas could be sold at “much lower prices” than current LNG imports.
  • The company announced Thursday that its natural gas reserves fell to the equivalent of 6.7 years last year, down from 7.2 years in 2023. Meanwhile, its oil reserves rose to 7.8 years from 7.7 years in the same period. (BBG)
  • Separately, President Petro has decided to appoint Oscar Torres de Cartagena as director of the ANI. Petro hopes that the ANI is vigilant in the road concession projects and their implementation, and that it will push forward the two-lane road to the south. Petro adds that he hopes that all the corruption within the Ministry of Transport is swept away.
  • The domestic economic calendar is light ahead, with just business confidence indicators and unemployment rate data due next week. BanRep will meet next Friday, but this is not a monetary policy decision meeting.
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  • President Gustavo Petro said he would “applaud” US President Donald Trump if he decides to end the free trade agreement between both countries, citing that Colombia loses more than the US with the FTA, unlike Mexico, speaking in a webcast speech.
  • Bloomberg have reported that Ecopetrol plans to develop two facilities to import LNG which, when ready next year, will cover up to 26% of national demand, according to CEO Ricardo Roa speaking in an interview. He added that imported gas could be sold at “much lower prices” than current LNG imports.
  • The company announced Thursday that its natural gas reserves fell to the equivalent of 6.7 years last year, down from 7.2 years in 2023. Meanwhile, its oil reserves rose to 7.8 years from 7.7 years in the same period. (BBG)
  • Separately, President Petro has decided to appoint Oscar Torres de Cartagena as director of the ANI. Petro hopes that the ANI is vigilant in the road concession projects and their implementation, and that it will push forward the two-lane road to the south. Petro adds that he hopes that all the corruption within the Ministry of Transport is swept away.
  • The domestic economic calendar is light ahead, with just business confidence indicators and unemployment rate data due next week. BanRep will meet next Friday, but this is not a monetary policy decision meeting.