HFI Research says it has repeatedly flagged a "golden opportunity" in Colombia
and Venezuela since early 2026. At the start of the year the unexpected arrest
of former Venezuelan president Maduro surprised markets. More recently,
President Trump announced the US has reached an agreement with Venezuela on
certain oil production blocks; details have not been released, but recent
reports indicate major players are poised to reclaim sizable blocks, with
Chevron the likely first candidate. In Colombia the new president, sworn in on
Aug. 7, has moved rapidly to restructure state oil company Ecopetrol: the
finance ministry has called an extraordinary shareholders meeting for Sept. 15
to amend the articles of association so the president can nominate six
additional board members and effectively control the board. The ministry said
the government will submit a nine-person slate mandated to raise output, restore
trust and push an energy transition. Delivering those objectives will require
external capital to lift mature‑field production, unlock new reserves and
improve efficiency, open an entry point for independent producers.
Geopolitically, HFI says Colombia and Venezuela remain among the most
undervalued energy opportunities.
