Colombia Vows To Stop New Oil, Gas Exploration

(@FahadShabbir)

Colombia Vows to Stop New Oil, Gas Exploration

MOSCOW (UrduPoint News / Sputnik - 20th January, 2023) Colombia will no longer allow new contracts to be signed for gas and oil exploration in order to further its climate agenda, the country's energy minister said.

"We decided not to award new contracts on gas and oil exploration," Irene Velez Torres told an energy transition panel at the World Economic Forum in Davos.

Colombian President Gustavo Petro mounted a green transition campaign after taking office last year in a bid to decarbonize the national economy.

Irene Velez Torres said on social media on Thursday that the government was working together with the national energy corporation, Ecopetrol, to become a leader in renewables and promote the green energy transition in Latin America.