

Colombia's natural gas reserves fell sharply in 2025, according to a government report published on Tuesday, a setback for a country already under pressure to secure future domestic supply.
The report showed proven gas reserves dropped nearly 17 per cent, while oil reserves edged down only slightly.
Authorities said Colombia still has nearly six years of gas supply at current production rates, while oil reserves cover more than seven years.
They also pointed to offshore Caribbean gas prospects and stronger reserve replacement in oil as signs the longer-term outlook could improve.
The government said discoveries and contingent gas resources in the Caribbean could help bolster supply in coming years, while proven reserves are expected to generate substantial future royalty income for the country.
Colombia has been facing declining gas output from mature legacy fields while leftist President Gustavo Petro's "energy-transition" policy has included a halt to new exploration contract awards.
Petro's successor, set to take office in early August, has vowed to kickstart the industry.
President-elect Abelardo de la Espriella has said he wants to resume new oil and gas exploration contracts and allow fracking.
(Reporting by Nelson Bocanegra;)