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Colombia’s new president Gustavo Petro wants to decouple his country’s economy from fossil
fuels. Starting with a ban on new exploration permits.
The Colombian government will stop granting new oil and gas exploration contracts.
The decision was revealed by Mining and Energy minister Irene Veléz.
This course change was promised by president Gustavo Petro on the campaign trail.
It’s a radical decision because the Colombian economy is currently dependent on fossil
fuel exports.
“We have decided not to award new oil and gas exploration contracts, and while that has
been very controversial, it’s a clear sign of our commitment in the fight against climate change.
This decision is absolutely urgent and needs immediate action.” With these words, spoken on
Thursday 19th January during a panel at the World Economic Forum in Davos, Colombia‘s
minister for mining and energy Irene Veléz announced a sharp change of pace in the South
American country’s energy transition.