finance
Colombia Presidential Election to Decide Oil Policy
Colombia's 2026 presidential election is drawing attention to the country's oil sector. Current policies under President Gustavo Petro have reduced new exploration contracts and contributed to falling production.
May 29, 3:00 PM·1m read1 source
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Colombia's oil and natural gas production has fallen under policies introduced since 2022 that halted new exploration contracts and discouraged investment, OilPrice.com reported. The same policies supported growth in renewable energy while contributing to an energy shortage.
Left-wing candidate Iván Cepeda supports continuing the current energy transition approach. Right-wing candidates Abelardo de la Espriella and Paloma Valencia favor expanding hydrocarbon production and permitting fracking. The election outcome will determine whether Colombia maintains its current direction on fossil fuels or adopts measures to increase domestic energy output.
Voters will decide between these approaches in the 2026 presidential contest.
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