Financial Data and Key Metrics Changes - The company achieved a semester production of 751,000 barrels of oil equivalent per day, the highest level in a decade, despite a challenging environment marked by high volatility and declining crude prices [3][4] - Revenue and profits were impacted by a 22% decline in RIM compared to 2024, although the company achieved the best quarterly crude differential in four years [6][7] - The company committed $2.5 billion in investments so far this year, maintaining its production target for 2025 [7][8] Business Line Data and Key Metrics Changes - In the upstream segment, domestic crude oil production reached 517,000 barrels per day, the highest since 2021, driven by fields like Canisur and the acquisition of 45% interest in Block CPO-nine [17][19] - The midstream segment saw transported volumes decrease by 6% compared to 2024, but EBITDA increased by 9% in the first half of the year [20][21] - The downstream segment reported a 52% increase in EBITDA compared to the same period in 2024, with throughput reaching 413,000 barrels per day [23][24] Market Data and Key Metrics Changes - The company secured long-term contracts for natural gas in Colombia, ensuring national supply through five-year agreements [5][32] - The company achieved a 5.6% self-generation of electricity from renewable sources, significantly up from 0.6% five years ago [34][35] Company Strategy and Development Direction - The company is focused on maximizing high-value products, portfolio diversification, operational efficiency, and sustainability [26][28] - The company continues to advance its TESG agenda, expecting to exceed the goal of 900 megawatts in renewable energy generation by 2025 [8][35] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by geopolitical tensions and third-party disruptions but emphasized the company's resilience and operational adaptability [3][6] - The company remains committed to protecting its cash position and maintaining capital discipline while monitoring market conditions [61][62] Other Important Information - The company completed the full payment of dividends to shareholders, delivering a 10% return [7] - Significant investments were made in renewable energy projects, including the acquisition of Winfecce, the company's first wind project [5][8] Q&A Session All Questions and Answers Question: Can you explain how you reached the peak of production and your expectations for the rest of the year? - The peak production was achieved through anticipation of activity and better performance of drills, with expectations of an average production of 90 to 190 barrels per day for the rest of the year [65][66] Question: Could you expand on the topic of disinvestment of assets? - The company constantly evaluates its portfolio and is looking at processes underway for potential disinvestments, particularly in Colombia [69][70] Question: What is the expected cash and breakeven EBITDA for the upstream business? - The company indicated that 99% of its fields have breakevens below $50 per barrel, allowing for strategic investment decisions [72][74]