IAHL Corporation (IAHL)

[Gators12]

“This is an intense debate in Colombia. It does not mean that we will be left without oil or coal, since there is already coal, oil and gas in exploitation, and there are already many previously signed exploration contracts that remain in force."
Oil and gas industry groups have repeatedly warned Petro that his decision threatens Colombia's energy security while limiting its most important source of export revenue.
Guillermo Acosta, the CEO of oil engineers' association Acipet, told BNamericas earlier this year that he was confident the government would change its mind based on "technical data and expert information".
Apart from ruling out the possibility of signing new exploration contracts, the government said its energy investment strategy was now focused on renewable sources, with a particular focus on offshore wind and hydrogen.