Following the drop in commodity prices that started in 2014, Colombia experienced several challenging years of dwindling investment in the energy sector. However, the industry is poised to regain momentum, and support from the administration is already yielding results across multiple segments. A number of measures have been implemented by the government that should improve Colombia’s attractiveness for foreign participation in the energy industry. After regaining its position as the third-largest…
Energy & Utilities
From The Report: Colombia 2019
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With the new administration’s pro-business, pro-investment stance, in addition to improvements in international prices, the Colombian oil and gas sector is anticipating increased investment over the coming years. Its efforts to diversify and strengthen its energy mix by capitalising on the country’s abundance of renewable sources and further developing its hydropower segment will likely continue to attract the interest of new industry players. As Colombia’s proven oil and gas reserves begin to decline after having reached their peaks, the announcement of new exploration activities and the first fracking pilot project are reassuring signs that the sector is moving in the right direction. This chapter contains interviews with María Fernanda Suárez, Minister of Mines and Energy; and Astrid Álvarez Hernández, CEO, Grupo Energía de Bogotá.