BOGOTA, Colombia — On Friday, Colombian President Abelardo de la Espriella committed to revitalizing the nation’s oil and gas sector, aiming to restore state-owned company Ecopetrol and strengthen the electricity system. He emphasized that energy security would be a fundamental part of his administration.
During his inauguration, de la Espriella spoke about pursuing an energy transition. This shift involves moving from oil, gas, and coal to cleaner energy sources such as wind and solar power. However, he stressed that this transition should not undermine the oil and gas industry.
“I believe in the energy transition,” he remarked. “But that transition must be built from strength, not from weakness, from self-sufficiency and not from dependence.”
The president’s statements signal a significant change from the policies of former President Gustavo Petro. Petro ceased the awarding of new oil and gas exploration contracts while promoting renewable energy and focusing on protecting the Amazon. Only four months ago, Petro’s administration organized an international summit to support a shift away from fossil fuels.
De la Espriella’s campaign frequently highlighted his promise to expand oil and gas production. He aims to reverse key elements of Petro’s energy policy, seeing energy security as a matter of national sovereignty. He believes Colombia cannot achieve long-term prosperity by neglecting its natural resources.
Rebuilding Ecopetrol, a majority state-owned oil company and a significant source of government revenue and exports, is an absolute priority for the new president. He accused the previous administration of weakening the company. He also confirmed plans to authorize fracking, alongside expanding oil and gas exploration to rebuild Colombia’s reserves and attract investments, under strict technical and environmental controls.
De la Espriella highlighted that Colombia’s energy system faces critical challenges, with declining reserves, delayed projects, and rising demand. The forthcoming El Nino weather event, which usually results in prolonged droughts impacting hydroelectric power, leaves little time for inaction.
“The El Nino phenomenon won’t wait for us. To overcome it, it is imperative to implement urgent solutions,” he said.