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Can Petro Move Colombia Away From Oil?
If his presidency goes according to plan, the country could become the world’s biggest crude exporter to halt new exploration.


Petro has said he would honor existing exploration and production contracts so that oil revenues can be gradually replaced by growth in other sectors, such as agriculture, manufactured goods, tourism, and clean energy. The Colombian Association of Petroleum and Gas estimated in May that cutting new oil contracts could cost the government around $4.5 billion in tax revenue by 2026.