Colombia’s Minister of Mines and Energy, Edwin Palma (center-right), and Venezuela’s Executive Vice President and Minister of Hydrocarbons, Delcy Rodríguez (center), in Caracas, July 2025. Photo: Ministry of Hydrocarbons.
Guacamaya, July 16, 2025. The Colombian government is reportedly seeking a license from the United States to acquire the fertilizer company Monómeros Colombo Venezolanos.
Colombian Minister of Mines and Energy Edwin Palma stated on social media that he held meetings with officials from Venezuela’s state-owned Pequiven regarding the “joint initiative of our two governments to move forward with the acquisition of this company, which is crucial for Colombia’s food sovereignty.”
He also affirmed that Colombian authorities are exploring “multiple avenues, including applying for a U.S. license to facilitate the transaction.” This step is necessary due to the sectoral sanctions imposed on Pequiven and its parent company, PDVSA.
Earlier this month, the Colombian minister visited Caracas, where he met with Venezuelan Vice President and Minister of Hydrocarbons Delcy Rodríguez, as well as business representatives.
President Gustavo Petro had previously announced Colombia’s intention to acquire Monómeros for its public sector, warning that the Venezuelan government planned to privatize it.
Monómeros, headquartered in Barranquilla, sells fertilizers and other agricultural supplies at subsidized prices to producers in both neighboring countries. Its assets were estimated at $600 million (as of 2021), and its plant supplies 28% of Colombia’s fertilizers.
