Published • loading... • Updated
Colombia’s new president signals energy policy shift, backs oil and gas
He said new exploration and fracking rules will rebuild reserves, attract investment and protect electricity supply as Colombia faces declining output and rising demand.
- On Friday, Colombian President Abelardo de la Espriella pledged to revive the country's oil and gas sector during his inauguration in Cali, arguing that energy security is a cornerstone of his administration.
- This agenda signals a sharp pivot from former President Gustavo Petro, who banned new hydrocarbon exploration contracts to prioritize environmental protection and Amazon conservation over four years.
- Between 2023 and 2025, foreign investment in mining and oil fell 34% to about $6.9 billion, while Colombia's crude reserves dropped by 54 million barrels, reflecting industry paralysis under the previous administration.
- Industry leaders warn of infrastructure vulnerability; 580 attacks on oil facilities in 2025 caused losses exceeding $749 million, prompting Naturgas President Luz Stella Murgas to call for unblocking permitting bottlenecks.
- Espriella plans to authorize fracking under strict environmental standards, though consultancy Colombia Risk Analysis warned there will be "no viable legal path" to bypass prior consultations with indigenous communities.
Insights by Ground AI
12 Articles
12 Articles
Associated Press News+9 Reposted by 9 other sources
Colombia's new president signals energy policy shift, backs oil and gas
Colombian President Abelardo de la Espriella is pledging to revive the country's oil and gas sector and restore state-owned energy company Ecopetrol.
·New York, United States
Read Full Article
Colombian President Abelardo de la Espriella pledged on Friday to reactivate the country's oil and gas sector, rehabilitate the state energy company Ecopetrol and strengthen the electricity system, arguing that energy security will be a cornerstone of his government.
Coverage Details
Total News Sources12
Leaning Left4Leaning Right0Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 40%
C 60%
Factuality
To view factuality data please Upgrade to Premium
