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Colombian Driller Sees Petro’s Anti-Oil Plans Ending Up in Court

  • Ecopetrol CEO says exploration ban would push up local prices
  • Energy transition has to be ‘orderly,’ Felipe Bayon says
Felipe Bayon Pardo
Felipe Bayon PardoPhotographer: F. Carter Smith/Bloomberg

A proposal to abruptly end oil and gas exploration in Colombia would lead to higher prices for local consumers and be challenged in court, according to the country’s state-run driller. 

Gustavo Petro, the leading candidate ahead of presidential elections in May, is looking to speed up Colombia’s transition to clean energy by ceasing exploration on day one of his government. While the industry needs to prepare for a future with less fossil fuel demand, the transition has to be “orderly,” Ecopetrol SA Chief Executive Officer Felipe Bayon said.