Colombia continues to grapple with deep economic disparities, ranking as the third most unequal country in the world in terms of income distribution, according to recent data from the World Bank.
Recently, the Ministry of Environment (MinAmbiente), headed by Susana Muhamad, made the decision to suspend the environmental licensing process for the Komodo-1 well.
As Colombia faces its lowest reservoir levels in 40 years due to a prolonged drought, the country is increasingly relying on thermoelectric plants to prevent energy rationing.
In a recent development regarding the Uchuva-2 gas exploration project in Colombia’s Caribbean, Susana Muhamad, the Minister of Environment (MinAmbiente), made an important announcement about Uchuva-2.
Colombia is set to unveil a US$40B investment plan designed to replace revenue lost from fossil fuel exports, following its decision to end new oil and gas exploration two years ago.
Frank Pearl, president of the Colombian Oil and Gas Association (ACP), stands on the front lines of the industry’s relationship with the fervently anti-oil government of President Gustavo Petro. Pearl had just passed his one-year anniversary and Petro his second, so recently, I dropped by the ACP’s offices for a visit. I asked Frank where he saw the industry and where the association was going.
The government released a draft decree aimed at modifying existing regulations under Decree 1073 of 2015.
For years, oil has been one of the cornerstones of Colombia’s economy, playing a significant role in key indicators like exports, Gross Domestic Product (GDP), foreign investment, and job creation.
The government released a draft resolution aimed at updating guidelines for geological information and subsurface cartography, with broader implications for energy policy, disaster risk management, and the country’s sustainable development.
The uncertainty surrounding Colombia’s gas supply continues to spark concern, particularly regarding the country’s inadequate infrastructure to handle potential gas imports.
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