President Abelardo de la Espriella Pledges to Revive Colombian Oil Sector

President Abelardo de la Espriella pledged during his August 7, 2026, inauguration to revive Colombia's oil and gas sector and restore the state-owned energy company Ecopetrol. This policy represents a significant reversal of the approach taken by former President Gustavo Petro, who had halted new exploration contracts to prioritize Amazon protection and renewable energy.

De la Espriella stated that while he supports a transition toward wind and solar power, the process must be built on self-sufficiency rather than dependence. He characterized the current state of national energy as a critical situation marked by declining reserves and rising electricity demand, a problem further complicated by the approaching El Nino weather phenomenon.

To address these challenges and ensure national sovereignty, the new administration will expand oil and gas exploration to attract investment. De la Espriella also announced that the government will authorize fracking, provided the practice meets strict technical and environmental standards.