According to industry experts, Colombian President Gustavo Petro's intention to cease offshore hydrocarbon exploration as part of the nation's shift to greener energy sources could jeopardize Colombia's energy security and economic health.
Despite strides in recovery, the Colombian oil industry has yet to surpass its pre-COVID-19 operations, as investor and management expert Matthew Smith noted in an Oilprice.com article.
In May 2023, Colombia, a country with significant oil reliance, pumped an average of 773,789 barrels per day (b/d).
Though this showed a notable yearly increase, it was still 13.5% below the. . .
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