IAHL Corporation (IAHL)

[Gators12]

Petro’s plans on energy have generated the greatest uncertainty. During the campaign, he promised to accelerate decarbonization of Colombia’s economy and not award new oil and gas contracts. Oil and gas represent 3.3% of Colombia’s GDP and 40% of its exports. Majority state-owned energy company Ecopetrol provides a significant percentage of the government’s revenues. So far, the administration has sent contradictory messages on energy policy. Energy Minister Irene Vélez has said the administration will uphold Petro’s campaign promises, while Finance Minister José Antonio Ocampo has stated that the government is studying the best course of action and that a transition will take at least 15 years.