Colombia imposes stricter rules on oil investors, leading to Shell's withdrawal from offshore gas projects, while Big Oil boosts presence in Guyana and Suriname.
1 report, 1 independent
Updated Aug 8
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What happened
Colombia imposes stricter rules on oil investors, leading to Shell's withdrawal from offshore gas projects, while Big Oil boosts presence in Guyana and Suriname.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Guyana is seeking to enhance its energy security by focusing on crude oil refinement.Sub-event
- Colombia's National Hydrocarbons Agency released a report on oil reserves, noting that Petro's reforms have deterred investment in the oil industry.Sub-event
Colombian oil regulations lead to Shell withdrawal, contrasting with Big Oil expansion in Guyana and Suriname.1 source
Keep exploring
The entities involved
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Colombia
country in South America
- The ARIRANG world tour, featuring BTS, earned over $465 million in Q3 2026 across global stops including Las Vegas, London, and Colombia.
- The Kingdom of the Netherlands, comprising entities like Aruba, Curaçao, and Sint Maarten, is detailed, including the co-hosting of a climate conference in Colombia.
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Shell
British multinational oil and gas company
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Guyana
country in South America
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Suriname
country in South America
Related events
- Oil market trends in Latin America are shaped by sanctions, regional growth in Guyana, and the performance of major national oil companies.
- Gustavo Petro has banned oil and gas exploration in Colombia.
- Petrobras shares geological characteristics with oil-rich zones in Guyana and Suriname.
- ExxonMobil and Brookfield Renewable are expanding globally, increasing production in Guyana and Africa, while monitoring Brent crude prices and Middle East volatility.
- A 30% stake in Guyana's offshore Stabroek Block is noted. Higher oil prices are increasing free cash flow, while ongoing conflict in Iran impacts this flow.
Coverage
Newest first; wire copies grouped- Oilprice.comBig Oil Bails on Colombia’s Offshore Oil and Gas Provinces Major international oil and gas companies have scaled back or quit operations in Colombia’s offshore exploration and production areas, as th