Trade tensions between Colombia and Ecuador have increased the crude oil transport tariff from US$2.7 to US$30 per barrel, impacting Ecopetrol. The Colombian government is considering raising tariffs to 50% on 73 Ecuadorian products in response to similar measures from Ecuador. This stems from disputes over border security and aims to balance bilateral trade.
Trade tensions between Colombia and Ecuador, driven by Ecuadorian President Daniel Noboa's announcement of initial 30% and then 50% tariffs on Colombian imports, have indirectly impacted crude oil transport. Ecuador raised the tariff by 900%, from a preferential US$2.7 per barrel to US$30, under the May 2024 agreement between Petroecuador and Ecopetrol for using pipelines like OSLA and SOTE, which carried 13,500 barrels daily out of 22,000 capacity.
Ecopetrol President Ricardo Roa warned in late January: "With this measure, we would have very significant impacts on the cost of the crude transport tariff through that infrastructure." To mitigate costs, Ecopetrol is seeking to reactivate routes like Babillas, Guadúas, and Vasconia to Coveñas, with an estimated tariff of US$12-15 per barrel involving 150 trucks.
In response, Commerce Minister Diana Morales stated the government is evaluating raising the 30% tariff to 50% on 73 Ecuadorian subpartidas, affecting products like wood boards (US$82.6 million), conserves (US$76.6 million), shrimp (US$75.9 million), and crude palm oil (US$53.6 million). This counters Ecuador's increase to 50% from March 1 due to border security issues. Morales noted ongoing communications with Ecuador but no direct talks with Noboa and no clarifications on required measures.
Analdex President Javier Díaz clarified the tariff is not classified as a sale but as a charge for infrastructure use. Colombia's trade balance, surplus at US$1,016.6 million, has declined by over US$100 million in two years, with business leaders warning of risks to bilateral trade.
