September 07, 2026 [Oil Price]- Colombia’s new right-wing President Abelardo de la Espriella plans to revive the oil and gas sector after Gustavo Petro’s four-year halt on new exploration contracts. The government could attract up to $4 billion in investment by easing licensing, permitting and fracking restrictions. However, divided Congress, fiscal uncertainty and security risks—including 580 attacks and blockades on oil infrastructure in 2025—could deter investors. De la Espriella has pledged to authorize responsible fracking and strengthen state oil company Ecopetrol, but analysts warn reforms must be comprehensive and provide long-term certainty.