Colombia is preparing to spotlight its energy transition strategy during the upcoming 8th Oil, Gas, and Energy Summit in Cartagena, the country’s most influential platform for dialogue on security, sustainability, and competitiveness in the energy sector.
We have updated our index of the stock prices of Colombian-focused, publicly listed companies to the latest data and rebased so that the index begins on May 1 2022, perhaps the last time that anyone might have hoped that Gustavo Petro would not become president of Colombia. This makes comparisons easier and leaves no doubt that Colombian E&Ps, including Ecopetrol, have suffered from his administration.
Unless you have only a passing interest in oil or have been trekking to the South Pole recently, you will know that oil prices are down thanks (or no thanks) to uncertainty about the global economy and OPEC’s decision to expand production.
Latin America stands at a crossroads between oil, gas, and clean energy, but Colombia appears to be drifting from the regional consensus that seeks balance between economic survival and decarbonization.
Colombia’s industrial sector could face a severe competitiveness crisis in 2026, as natural gas prices are projected to rise by up to 200%, driven by costly imports and inefficient transport logistics from the Caribbean coast.
A new government proposal to apply VAT to ethanol and biodiesel could undermine Colombia’s progress toward cleaner fuels and climate goals.
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