Colombia’s OIl Exploration Ban Could Crush Its Economy ...Middle East

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Colombia’s OIl Exploration Ban Could Crush Its Economy
source : OILPRICE ( Middle East ) () 22
The future of Colombia’s battered oil industry is once again in doubt. The plans of the strife-torn country’s first leftwing President Gustavo Petro, who was inaugurated in August 2022, to transition Colombia from fossil fuels to cleaner renewable forms of energy are weighing heavily on the hydrocarbon sector’s outlook. The controversial leftwing senator and former guerilla campaigned on a platform of ending contracting for hydrocarbon exploration and banning hydraulic fracturing. In a hotly debated move, the Petro administration…

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