Colombia’s new president, Gustavo Petro, campaigned on a pro-energy transition platform
Letter from South America: Petro plots course for transition
Colombia’s new president has no interest in arresting decline in the country’s oil and gas production
Politics and pragmatism rarely mix, and it seems Colombia’s new president, Gustavo Petro, will be no exception to that rule. However, politicians are renowned for their ability to dream, and in the long term, that may be just as valuable. The fact of the matter is Colombia is already on a path to reducing its economic dependence on oil. The country has gone a long time with no significant increase in proven resources—essentially since 2012. Crude resources totalled 2bn bl in 2021 and production has been steadily declining since 2013, with the nation producing an average of below 750,000bl/d last year, a 6pc drop year on year, with volumes expected to fall again in 2022. Gas production is al
Also in this section
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
