New Colombian government's outlook on oil and gas
Colombia at a crossroads
The new government is seen as unfriendly to oil and gas but will have to be pragmatic in the face of energy challenges
The new Colombian government—led by the ironically named President Petro—is a keen supporter of the energy transition and has proposed tax reforms that threaten to stymie investment in upstream oil and gas. But the country remains heavily dependent on the oil sector for revenue and is facing a gas supply crisis, so there may be more continuity than change, at least in the short term. “The policy of this government is the energy transition,” says Camilo Andres Rincon, director of hydrocarbons at the Ministry of Mines and Energy of Colombia. Describing Bogota’s transition plans as “aggressive”, Rincon also emphasises that hydrocarbons still have a very significant role in the country’s economy
Also in this section
2 May 2025
Fast-tracking US project approvals and increased trade pressures have already changed the LNG landscape since Trump came to office, with further transformation ahead
2 May 2025
Peru’s state-owned hydrocarbons agency has launched the search for new investors for Offshore Block Z-69, a high-potential asset in the prolific Talara Basin.
2 May 2025
The scars of the Russia crisis have accelerated Europe’s push to wean itself off gas dependence as the growing globalisation of LNG becomes a double-edged sword
1 May 2025
The NOC’s dire financial situation and maturing fields have left the authorities with little choice but to reduce crude expectations
