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Colombian President Gustavo Petro
Colombia Upstream
Marat Aslan
17 September 2024
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Colombian O&G starts to feel investment squeeze

Decarbonisation strategy is already hurting upstream appetite and threatening near-term energy security

Colombian President Gustavo Petro hardly disguised his aversion to the country’s hydrocarbons sector heading into the 2022 election. Since taking office, his government has done much to hamper the upstream and left Colombia facing a severe gas deficit. In July, exploration drilling activity fell by around 20% year-on-year as regulatory changes and bans on new exploration and production contracts started to bite. At his most fiery, the president has compared the impact of oil and gas in Colombia to that of cocaine.  “Petro’s administration has signalled a desire to reduce reliance on fossil fuels, which has led to a slowdown in new exploration activities and contract commitments,” said Jose Z

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11 July 2025
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
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Waiting for Arctic LNG 2
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Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
Nigeria bullish about oil recovery
9 July 2025
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030

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