Dirty Venezuelan Fuel Imports Threaten Colombian Leader's Green Credentials.

VENEZUELA; COLOMBIA

President Gustavo Petro of Colombia has expressed his intention to phase out fossil fuel production in the country, which may lead to the importation of cheap energy from Venezuela. Petro has proposed "energy integration" between the two countries, with the aim of transitioning to clean energy through the use of natural gas. However, Venezuela's energy industry is currently facing significant challenges due to decades of underinvestment and US sanctions, making it one of the world's most environmentally harmful producers. Despite this, Colombian state oil producer Ecopetrol SA is considering importing Venezuelan natural gas, which would help diversify Colombia's electricity production and reduce its reliance on hydropower. However, there are concerns about Venezuela's ability to be a reliable supplier, as it currently struggles to meet its own gasoline demand. The recent lifting of some US sanctions on Venezuela's oil and gas operations may improve the outlook for the sector, but the country still faces challenges in meeting its energy needs. [Extracted from the article]

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