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Colombia to End New Government Contracts for Oil and Gas Drilling

HeadlineJan 20, 2023

Colombia’s government has pledged it will no longer award new contracts to drill for oil and gas, as President Gustavo Petro seeks to fulfill a campaign promise to transition Colombia away from fossil fuels. Colombia’s Energy and Mines Minister Irene Vélez spoke Thursday at the World Economic Forum in Davos. 

Irene Vélez Torres: “We have decided that we are not going to enter into new gas and oil exploration contracts. This has, of course, been very controversial at the national level. But, for us, this is a clear sign of our commitment to the fight against climate change, because we know that this decision is a planetary decision that is absolutely urgent and needs immediate action.”

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