BOGOTA, Colombia — Colombia’s newly inaugurated President Abelardo de la Espriella has pledged to revive the country’s oil and gas industry, restore state-owned energy company Ecopetrol and strengthen the electricity system, signalling a significant change in energy policy after the administration of former President Gustavo Petro.
- Abelardo de la Espriella says energy security will be a cornerstone of his administration.
- His government plans to expand oil and gas exploration and authorise fracking under strict technical and environmental standards.
- The president has made rebuilding Ecopetrol a top priority.
- He warned that declining reserves, delayed projects and rising electricity demand have placed Colombia’s energy system in a critical situation.
New president promises to revive oil and gas sector
Speaking during his inauguration on Friday, de la Espriella said Colombia would continue pursuing an energy transition towards cleaner sources such as wind and solar power.
However, he argued that the transition should not weaken the country’s oil and gas industry. He said Colombia needed to maintain energy self-sufficiency while developing cleaner sources of power.
“I believe in the energy transition. But that transition must be built from strength, not from weakness, from self-sufficiency and not from dependence.”
The president described energy security as a matter of national sovereignty and argued that Colombia could not achieve long-term prosperity while leaving its natural resources undeveloped.
Policy shift from Gustavo Petro era
De la Espriella’s position marks a sharp departure from the energy policies pursued by former President Gustavo Petro.
Petro had stopped awarding new oil and gas exploration contracts while promoting renewable energy and placing protection of the Amazon at the centre of his environmental agenda.
Four months before de la Espriella’s inauguration, Petro’s government hosted an international summit in Santa Marta focused on building international support for a transition away from fossil fuels.
De la Espriella’s current commitments mirror promises he made during his presidential campaign, when he repeatedly pledged to increase oil and gas production and reverse key elements of Petro’s approach.
Ecopetrol recovery made a top priority
The new president said restoring Ecopetrol would be a “definitive and absolute priority” for his administration.
Ecopetrol is Colombia’s majority state-owned oil company and is among the country’s major sources of government revenue and export earnings.
De la Espriella accused the previous administration of weakening the company and said rebuilding it would be central to his plans for the energy sector.
Government plans to expand exploration
De la Espriella also confirmed that his administration would authorise fracking, a technique used to extract oil and gas by injecting water, sand and chemicals underground to fracture rock formations.
He said the method would be carried out under what he described as the “strictest technical and environmental standards”.
The government also plans to expand oil and gas exploration in an effort to rebuild Colombia’s declining reserves, strengthen energy security and attract investment back into the sector.
President warns of critical energy situation
De la Espriella warned that Colombia’s energy system is facing a “critical situation”. He pointed to declining oil and gas reserves, delays affecting energy projects and increasing electricity demand.
He also highlighted the approaching El Nino weather phenomenon as an additional challenge. El Nino typically brings prolonged drought, which can reduce electricity generation from hydropower.
“The El Nino phenomenon won’t wait for us. To overcome it, it is imperative to implement urgent solutions,”
De la Espriella said.
Energy transition remains part of policy
Despite his support for expanded oil and gas production, the president said Colombia would continue with an energy transition towards cleaner energy sources.
His remarks indicate that the administration intends to pursue renewable energy alongside continued development of the country’s fossil-fuel resources rather than making a rapid shift away from oil and gas.
The balance between those priorities is expected to shape Colombia’s energy policy as the new administration begins its term.
Frequently Asked Questions
What is Colombia’s new president planning for the oil and gas sector?
President Abelardo de la Espriella plans to expand oil and gas exploration, increase production and authorise fracking under strict technical and environmental standards.
What did the new president say about Ecopetrol?
De la Espriella said rebuilding state-owned Ecopetrol would be a “definitive and absolute priority” for his administration. He accused the previous government of weakening the company.
What happens next?
De la Espriella’s administration will now face the challenge of implementing its energy strategy while addressing declining reserves, delayed projects and growing electricity demand.
The government’s approach will combine continued investment in oil and gas with an energy transition towards cleaner sources, while the president has also stressed the need for urgent measures ahead of the expected El Nino conditions.
