The outlook for Colombia’s economically crucial oil industry is bleak. Not only has it failed to recover from the pandemic and return to a pre-2020 tempo of operations, but the July 2022 presidential electoral victory of former leftist guerilla Gustavo Petro sparked considerable concern over the oil industry’s future. Colombia’s first-ever left-wing president, who took office on August 7, 2023, plans to end awarding new contracts for hydrocarbon exploration and ban hydraulic fracturing. Those propositions form…
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