Colombia's New President Signals Shift In Energy Policy, Backs Oil And Gas

Colombian President Abelardo de la Espriella has pledged to revive the country’s oil and gas sector, rebuild state-owned energy company Ecopetrol and strengthen the national electricity system, placing energy security at the centre of his administration. Speaking at his inauguration on Friday, de la Espriella said Colombia would continue pursuing an energy transition towards cleaner sources such as wind and solar, but argued that the shift should not undermine the country’s traditional oil and gas industry.

“I believe in the energy transition,” de la Espriella said, stressing that the process should be based on national strength and self-sufficiency rather than dependence on external energy sources. His remarks signal a significant departure from the policies of former President Gustavo Petro, whose administration halted the awarding of new oil and gas exploration contracts while prioritising renewable energy and environmental protection, particularly in the Amazon.

De la Espriella’s energy commitments are consistent with promises made during his presidential campaign, when he repeatedly called for increased oil and gas production and pledged to reverse several elements of Petro’s energy strategy. He described energy security as a matter of national sovereignty, arguing that Colombia could not achieve sustained economic growth while leaving its domestic natural resources undeveloped.

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The president also identified the restoration of Ecopetrol as a major priority for his government. The majority state-owned company is one of Colombia’s largest sources of export earnings and government revenue. De la Espriella accused the previous administration of weakening the company and pledged to rebuild its position within the country’s energy sector. He also confirmed that his government would permit fracking under what he described as the strictest technical and environmental standards.

De la Espriella said Colombia would expand oil and gas exploration to address declining reserves, improve energy security and encourage investment in the sector. He also warned that the country’s energy system was facing a critical situation because of falling oil and gas reserves, delays in energy projects and growing electricity demand. The government, he indicated, would need to act quickly to prevent further pressure on the system.

The president also pointed to the approaching El Nino weather phenomenon, which can bring prolonged periods of drought and reduce electricity generation from hydropower, a major component of Colombia’s energy system. He argued that the potential impact of the weather pattern left little room for delay and called for urgent measures to strengthen the country’s energy infrastructure and ensure reliable supplies.

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