AGP Executive Report

Middle East Energy Shock: Iran says it attacked 10 ships near the Strait of Hormuz after the US destroyed five Iranian oil tankers, pushing Brent back above $100 a barrel and raising new shipping-risk alarms. U.S.-Ecuador Security Push: US Secretary of State Marco Rubio defended strikes on suspected drug-trafficking boats and announced a bid for $45M more security funding for Ecuador, alongside sanctions tied to the Los Tiguerones gang. Colombia Solar Program Under Review: Colombia’s new Mines and Energy minister put the COP 4.2T “Colombia Solar” plan under review, citing contract questions and “zero connected users,” with targets of 563,057 households by 2030. Construction & Manufacturing Dividend: Tecnoglass (Barranquilla) declared a Q3 2026 dividend of $0.15/share, underscoring ongoing output in high-end windows and architectural glass. Food Safety Recall: A US recall hit Colombian-made potato chip products containing pork cracklings after USDA flagged the exporter as ineligible. Mining Deal: British Gem Resources entered a conditional agreement to acquire a gold processing facility in Colombia, planning modernization and new dore alloy production.

U.S.-Colombia Security Reset: Secretary of State Marco Rubio met Colombia’s new president Abelardo de la Espriella in Barranquilla, signaling a “rebirth” of ties and pushing a security-and-investment agenda, including a “21st-Century Patriot Plan” for drones, radars, air defense, cyber and special forces, plus supply-chain cooperation tied to mining and processing. Critical Minerals & Civil Nuclear: The same visit produced memorandums on nuclear cooperation and critical minerals, with plans to finance mining and processing projects and streamline permitting. Energy Push: Colombia is aiming to bring crude output back to 1 million barrels per day (from just above 730,000 bpd), betting on renewed exploration and production to strengthen energy sovereignty. Oil Market Shock: Escalating Iran–U.S. tanker attacks near Hormuz pushed Brent back above $100, raising costs and adding volatility for regional logistics and energy-linked industries. Food Inflation Pressure: Colombia’s El Niño drought and wildfires are driving up food prices, with some staples reportedly climbing as much as 60% as supply volumes and quality drop. Agribusiness Trade: U.S. pork exports to Colombia rebounded sharply after earlier disruptions, with May–July volumes and values posting strong gains. Mining & Safety Tech: Arrow Exploration reported record corporate production above 6,000 boe/d in Colombia’s Llanos Basin, highlighting operational updates at the Icaco field.

U.S.-Colombia Reset: Secretary of State Marco Rubio met President Abelardo de la Espriella in Barranquilla, signaling a renewed security and investment agenda under the “Barranquilla Agreements,” including civil nuclear cooperation and critical minerals pacts. Energy Shock for Industry: Oil jumped back above $100/bbl as U.S. strikes destroyed five Iranian tankers and Iran retaliated with missile attacks on Jordan and actions near the Strait of Hormuz, raising shipping and supply-chain risk. Security Tech for Logistics & Worksites: A report says drones are increasingly used by organized crime across Latin America, and Colombia’s new leadership is looking to Ukraine’s counter-drone experience as armed groups adapt. Solar Manufacturing Deal: Midsummer inked a joint venture in Indonesia to scale CIGS thin-film PV production via manufacturing partnerships, targeting 20MW/year initially with expansion potential. Payments Infrastructure: TerraPay linked Xend to Alipay+ to enable cross-border QR in-store payments, expanding merchant acceptance for wallet users across Latin America, the Middle East, and Africa. Colombia Project Cargo: DAKO shipped massive power-plant equipment through Cartagena, loading three 291-tonne engines plus generators onto a multipurpose vessel. Cyber Risk: Kaspersky survey flags widespread SMB cyber incidents, with phishing and ransomware among top threats.

US-Colombia Trade & Security: Secretary of State Marco Rubio met Colombia’s new president Abelardo de la Espriella in Barranquilla, signaling “good, solid” trade deals with Colombia (and soon Peru and Ecuador) alongside a tighter security agenda against drug trafficking and transnational crime, with new critical-minerals and civil nuclear cooperation deals on the table. Interoceanic Connectivity for Industry: Colombia’s president revived plans to study a Pacific-to-Caribbean corridor through Chocó—potentially an interoceanic canal or rail link—framed inside a “Marshall Plan” for reconstruction and private-sector-led infrastructure, energy, mining and jobs. Bogotá Metro Line 2: Three international groups submitted prequalification applications to build Bogota’s Metro Line 2 (15.5 km), with financing split between the national government (70%) and the city (30%), and a concession award targeted for early 2027. Food Inflation Pressure: Grupo Cibest estimates Colombia’s food inflation hit 5.7% annual in August, driven by earthquake and wildfire impacts plus El Niño squeezing perishable supply. Chocó Reconstruction Mobilization: Business leaders and the government launched a Chocó rebuilding push after the August 7.4 quake, with companies pledging $2 trillion COP and the state adding a $1 trillion COP infrastructure package. Cybersecurity for Industry: Researchers warn of active exploitation of FortiGate FortiOS vulnerabilities to deploy custom Node.js malware, a risk for industrial networks and logistics operators.

Energy Security: Colombia cut electricity transfers to Ecuador by more than 50% as El Niño preparations intensify, with the Mazar reservoir dropping eight meters in three weeks; President Abelardo de la Espriella’s “Energy Now Plan” pushes conservation via discounts for 10% lower consumption and surcharges for those who don’t. Macroeconomy: Inflation accelerated in August, with consumer prices up 0.39% and annual inflation reaching 6.24%, keeping pressure on the central bank’s 3% target. Disaster Response: A 7.4 quake in western Colombia left at least 111 dead and widespread damage, while Puracé remains on orange alert after continued seismic unrest and ash emissions. Industrial & Agribusiness: Four fruit exporters shut down as the peso’s dollar slide squeezes margins, hitting avocado and cape gooseberry producers; meanwhile, researchers unveiled a deep-learning approach to measure rice root traits linked to methane reduction. Mining & Metals: Tungsten was found in Caldas during exploration for gold and other metals, adding a strategic new mineral prospect. Trade & Investment: India is exploring Colombia’s critical minerals and oil through KABIL and ONGC Videsh, aiming to diversify supply chains. Business Moves: Primero Games is set to expand after acquiring Win Systems’ gaming division, adding 3,000+ installed positions across Latin America and the Caribbean.

Medicinal Cannabis Regulation: Colombia’s Ministry of Health gets a more usable evidence roadmap for medicinal cannabis, linking research and stakeholder input into rules on access, psychoactive limits, and health-professional training. Inflation Watch: DANE reports August consumer prices up 0.39%, lifting annual inflation to 6.24%, above forecasts and still far from the central bank target. Energy Security: President Abelardo de la Espriella rolls out “Plan Energía YA” to prevent electricity rationing as El Niño intensifies, with CREG-approved incentives to curb household demand. Disaster Response & Reconstruction: A 7.4 earthquake in western Colombia leaves at least 111 dead and widespread damage, while business leaders join the “Marshall Plan for Chocó” to speed rebuilding and recovery planning. Security Policy Debate: De la Espriella’s “Urban Security Blocs” and leaked gun-legalization considerations spark paramilitary comparisons and political pushback. Mining & Critical Minerals: Collective Mining reports a tungsten discovery in Caldas, a strategic metal with major global market concentration. Oil & Gas Investment: GeoPark expands in Venezuela via the Bare Block deal, aiming to sharply raise production over the decade. Volcanic Monitoring: Puracé remains on orange alert after renewed seismic activity and ash emissions. Tech for Exploration: Vector Geophysical buys STRYDE Halo-Connect nodes to boost high-density seismic survey capacity in Colombia.

Colombia Energy & Industry: Vector Geophysical bought 30,000 STRYDE Halo-Connect land seismic nodes plus a Nimble Receiver System to boost high-density seismic acquisition in Colombia, with first deployment planned on a Parex Resources project. Mining & Infrastructure: Mining Magazine named Schneider Electric the AI in Action winner, highlighting how automation and digital tools are reshaping mining operations and equipment decisions. Oil & Gas Policy: Reporting says Colombia is moving to reverse the fracking ban and eye about $4B in new oil investment, but investors want regulatory and security hurdles cleared fast. Security & Logistics: Colombia-linked organized crime is increasingly using legitimate cargo routes as a pipeline for narcotics, raising pressure on supply-chain controls. Sports Economy: Colombia’s sports economy hit 1.15% of GDP in 2024 (US$10.2B), driven by football, betting, media, tourism, and transfers—now measured via an official satellite account. Food & Trade (Colombia-linked): A Colombia-to-global sourcing story spotlights how traceability gaps can emerge when Wayuu imports bypass artisan-level verification.

Energy & Investment: Colombia is moving to reverse its fracking ban and is eyeing about $4B in new oil investment, but Reuters notes regulatory clean-up and security risks will decide whether foreign capital actually arrives. Regional Energy Deals: Venezuela and Colombia signed a 25-year energy investment agreement, while Venezuela also struck a 25-year Orinoco Belt deal with GeoPark. Mining M&A: A new wave of mining deals is chasing control of processing and midstream routes, not just ore size—making mills, concentrators, logistics and market access the real strategic bottleneck. Logistics & Infrastructure: Airport operators are planning major cargo expansions by 2030 to double freight capacity, reflecting how e-commerce and supply-chain disruptions are reshaping air logistics. Tech & Industry Services: Tech Sphere returned to Medellín, highlighting the city’s fast-growing BI and tech ecosystem. Finance & Banking: Davivienda Group says its Panama consolidation phase is now at nearly $80B in assets, strengthening Panama as a regional hub. Security & Crime: Ecuador is increasingly seen as a synthetics processing corridor, with precursor controls and small shipments becoming the key battleground. Weather Risk: El Niño is expected to intensify through at least February, shifting rainfall and temperatures across the region.

Energy & Trade: Iraq resumed U.S. crude shipments at about 38,000 bpd in the week ending Aug. 28, according to EIA data, with Canada still dominating supply at 4.011 million bpd and Colombia listed among the top regional contributors. Oil Politics in Venezuela: Venezuelans are reacting with anger to a deal that would give the U.S. control of roughly one-fifth of Venezuela’s oil reserves, framing it as a surrender despite potential investment upside. Colombia Biodiversity Monitoring: Colombia is consolidating a national camera-trap monitoring effort through the OTUS Network, coordinating public institutions, private partners, communities, and tech providers to expand wildlife and habitat data for conservation decisions. Pharma Manufacturing in Colombia: Caplin Point’s subsidiary Caplin One Labs received INVIMA GMP compliance confirmation for manufacturing oncology drug products, covering both sterile and non-sterile dosage forms. Construction Innovation: A Colombian project is scaling modular homes and classrooms made from coffee husk and recycled plastic, already building thousands of educational spaces and housing units. Tech & Business in Medellín: Tech Sphere 2026 returned to Medellín, highlighting the city’s fast-growing BI and tech ecosystem and the push to keep attracting investment and talent.

Biodiversity Monitoring Boost: Colombia is consolidating a national camera-trap network (OTUS) to generate reliable wildlife data for conservation decisions, bringing together Humboldt Institute, Conservation International Colombia, regional environmental authorities, Wildlife Insights, and Google. Energy & Investment: Erco Energía closed a $129M Series C co-led by Ventures EPM (Next Utility Ventures) to scale solar projects, signaling fresh capital for Colombia’s renewables pipeline. Digital Security for Industry: MinTIC will create a weekly working group with major platforms to curb criminal recruitment of minors via social media, after Human Rights Watch flagged rising cases since 2023. Tourism Metrics Upgrade: Colombia’s tourism associations agreed to measure sector performance beyond visitor volume, using spending, regional jobs, sustainability, gastronomy positioning, and security. Oil Sector Reshuffle: Ecopetrol is replacing five vice presidents as part of an executive overhaul aligned with the new government. Mining Output: Denarius Metals reported a 67% jump in Q2 shipments from its Zancudo project in Antioquia, pushing H1 revenue to $8.6M. Construction Innovation: A Colombian startup scaled coffee-husk and recycled-plastic panels into modular homes and classrooms, building 3,700 houses and 1,000 classrooms.

Coffee-Husk Housing Push: Colombian firm Woodpecker is turning coffee husk and recycled plastic into wood-plastic composite panels, building 3,700 homes and 1,000 classrooms for rural communities in a modular, factory-made system that can be assembled in 3–7 days. AI & Jobs Watch: Asocapitales reports 48.1% of urban workers in Colombia face high AI exposure, with 3.27 million in roles needing adaptation or labor conversion—especially in admin, customer service, BPO, and document review. Security for Minors Online: MinTIC will set up a weekly working group with major platforms to monitor and remove criminal recruitment content targeting minors, following a Human Rights Watch report citing at least 1,500 recruits since 2021. Energy & Ports: Ecopetrol replaces five vice presidents amid an executive overhaul; Frontera’s Puerto Bahía hits a cargo record while adjusted EBITDA rises 18%, and Denarius Metals reports 67% more ore shipped from Zancudo ahead of its Colombian plant startup. Mining & Solar Investment: Soma Gold reports first drill results showing near-mine continuity at Escondida; Erco Energía closes a $129M Series C co-led by Ventures EPM to scale solar. Tourism Metrics Shift: Colombia’s tourism associations back measuring impact via visitor spending, regional jobs, sustainability, gastronomy, and security—not just visitor volume.

Post-Earthquake Recovery: Colombia’s August 10 quake response is moving into the rebuilding phase, with reconstruction costs pegged at about $9.6B (mostly housing), raising urgent questions on financing and how Bogotá’s standards will be applied. Aviation Connectivity: Avianca resumed daily Bogotá–Caracas flights and added a daily Bogotá–Maracaibo route, boosting Colombia–Venezuela capacity with A320 service and thousands of weekly seats. Oil & Industry Deals: Venezuela’s PDVSA and Colombia’s Gilinski Group signed to run primary activities in Venezuela’s Bare block, with officials framing each barrel as social “well-being.” Security & Human Impact: Authorities say six minors were killed in airstrikes against drug-trafficking guerrillas since President Abelardo de la Espriella took office, after a judge ordered a pause when minors were allegedly present. Fintech/Banking: Revolut received conditional OCC approval for a U.S. bank charter, targeting an H1 2027 launch and setting up broader U.S. checking, lending, and likely stablecoin expansion. Trade & Competition: China’s ambassador in Bogotá said future Chinese investment depends heavily on De la Espriella’s foreign policy, amid debate over Shein and Temu’s competition in Colombia. Maritime Milestone: The Caribbean passenger ship MV Freewinds reached 500,000 safe sea miles on its voyage to Cartagena.

UN Probe on Sudan: A UN-backed investigation says foreign networks are helping fuel Sudan’s war, including a transnational supply network tied to the UAE, Colombia and Chad, and it alleges Colombian contractors supported RSF drone and advanced weapons operations. Trade Policy Watch: ANALDEX president Javier Díaz Molina says the US could cut Colombia’s 12.5% forced-labor tariff to zero and may offer preferential treatment if Colombia issues the needed legal instrument. Fintech Banking Expansion: Revolut received conditional approval from the US OCC for a national bank charter, targeting a 2027 launch and expanding services that could include FDIC-insured deposits plus stablecoins and crypto. Energy Storage Growth: Norvento Enerxía plans to scale utility-scale energy storage across Latin America, using its nXL power conversion tech and building on microgrid and industrial self-consumption work. Oil & Gas Deals in Venezuela: GeoPark announced entry into Venezuela via the Bare block, with Gilinski set to gain majority control through a share exchange tied to a long-term PDVSA production contract. Cybersecurity: Trezor says the ShipMonk breach now affects nearly 81,000 customers, including 67,000 newly identified US users, raising phishing and impersonation risks. Local Admin Impact: Colombia’s court suspended passport-production agreements but ordered appointments and delivery to continue uninterrupted.

Oil & Gas Deal: Ecopetrol closed its $1.2B acquisition of a controlling 51% stake in Brazil’s Brava Energia, boosting production scale and reserves under a B3 tender and share purchase structure. Venezuela Energy Control: GeoPark says it is entering Venezuela by buying the Bare block in the Orinoco Heavy Oil Belt, with a long-term redevelopment plan and potential output ramp. Ownership Shift: Grupo Gilinski will take majority control of GeoPark via a transaction tied to the Bare project, including a share exchange and a $100M tender offer for existing shareholders. Security & Industry Risk: A UN-backed probe on Sudan warns foreign networks—including entities linked to Colombia—are supplying weapons, drones, training and contractors, raising risks for civilian infrastructure. Agri Innovation: California and Queensland signed a partnership to accelerate agricultural innovation, biotechnology and climate resilience, with coordinated action plans between food and primary industries agencies. Colombia Economy Snapshot: Bancolombia’s regional GDP read shows Colombia’s growth is concentrated in a few departments and Bogotá, leaving others more exposed to commodity cycles. Supply Chain Leadership: Hardis Supply Chain’s Tatiana Munoz was recognized for building North America operations across logistics and manufacturing. Medical Tourism: Bogotá and Colombia keep drawing international patients with transparent care policies and lower full-trip costs than the US. Coffee Outlook: Fitch Solutions/BMI expects coffee prices to stay supported by thin inventories and weaker 2027-28 crop prospects amid El Niño risks.

Construction & Materials: Colombia’s cement dispatches fell 4% in July 2026 to 1.158Mt, with Bogotá down 15.4% and domestic plant output down 4.5% YoY, signaling softer demand across construction and contractors. Water & Public Health: A new study found traces of cocaine and related chemicals in water systems serving 11.8 million people across Bogota, Cartagena, Popayán, Quibdó and Cali—raising fresh scrutiny on illicit production impacts. Energy & Investment: Chevron said it will invest $7bn in Venezuela over five years to more than double output to 600,000 bpd; UBS and Rystad warn recovery will take decades, limiting near-term price effects. Aviation Connectivity: Avianca resumes Caracas–Bogotá flights and launches Maracaibo–Bogotá service, adding 7,500+ weekly seats to restore regional links. Mining: Collective Mining reported new northern expansion at its Apollo system within Colombia’s Guayabales project after drilling results. Policy & Business Climate: Colombia’s Council of State set limits on protests that use road blockades, citing harm to operations and economic activity. Digital Finance: Plenti raised $3m seed led by Tether to expand its digital dollar platform across Peru and Bolivia; Félix Pago raised $200m to scale remittances and launch lending.

Energy & Oil Deals: The U.S. and Venezuela are moving to expand energy agreements, with Chevron and Eni among firms set to sign pacts aimed at more than doubling Venezuela’s oil output in under five years. Geothermal Power: Dewhurst Group secured Colombia’s geothermal exploration permit for the Cóndor Paipa project, positioning Paipa/Boyacá as a potential baseload hub. Urban Infrastructure: Bogota Metro Line 1 is set to start carrying passengers on March 15, 2028, after reaching 80% completion. Public Health & Environment: A report found traces of cocaine and related chemicals in water systems serving 11.8 million people across five Colombian cities, raising concerns about illicit production inputs. Regulation & Risk: Colombia’s Council of State set limits on protests that use road blockades, citing harm to operations and the wider population. Industry & Pharma: Caplin One Labs received INVIMA GMP confirmation for an oncology manufacturing scope, strengthening Colombia’s access to high-value cancer medicines. Finance & Payments: Félix Pago raised $200M to scale cross-border transfers and expand into lending and savings. Logistics/Trade: DHL acquired Aero Cargas in Uruguay, expanding freight and forwarding reach in the region. Media/Support: Netflix donated US$186,000 to Colombia’s film sector to support earthquake-affected audiovisual workers.