{
  "id": 11513076,
  "title": "Ecopetrol Eyes Venezuela as Its Chief Is in Caracas",
  "url": "https://urgent.news/2026/10/02/ecopetrol-eyes-venezuela-as-its-chief-is-in-caracas",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-02T18:25:27.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/colombia-ecopetrol-eyes-venezuela-oil-gas-deals-2026/"
  },
  "original_language": "en",
  "account": "Ecopetrol, the Colombian state-controlled oil company, sees Venezuela as a potential source for new oil and gas business, according to a statement released on Wednesday, 30 September. Their president, Joaquín Gutiérrez Caballero, visited Caracas to attend the International Oil and Gas Congress. The company considers Venezuela a \"market of interest\" due to its vast resources. The trip aims to explore opportunities, exchange experiences, and study growth prospects for the regional energy sector, though no deals have been signed yet. The visit comes following changes in leadership at Ecopetrol, with Gutiérrez taking over in late September. Caracas was his first international appearance in this role. Ecopetrol conducted due diligence and risk analysis before attending and designed protocols to comply with US sanctions. Colombia now consumes more gas than it produces, with Campetrol estimating daily output at 794.2 million cubic feet in 2025, a 17.1% decrease from 2024. About 26% of Colombia's gas consumption in 2026 could come from imports, mainly via the SPEC regasification terminal in Cartagena. However, the Antonio Ricaurte pipeline to Venezuela has been out of service for years. Venezuela is actively seeking foreign investment and aims to produce 1.37 million barrels a day by the end of 2026. Colombian officials view working with Venezuela as a \"totally viable\" option. Despite potential opportunities, significant challenges remain, such as the unstable power grid and the estimated cost of US$5 billion to repair the grid. Ecopetrol has not disclosed specific opportunities or potential partners, but restoration of the pipeline could take 18 months to two years.",
  "summary": "Ecopetrol eyes Venezuela: its new president joined a Caracas oil and gas congress. No deal is signed, but Colombia's falling gas output raises the stakes. The post Ecopetrol Eyes Venezuela as Its Chief Is in Caracas appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}