Economic Report Liquid Fuels: Energy of today and tomorrow

Sector context in 2024 and expectations for 2030

The reliable, continuous, and efficient supply of liquid fuels is fundamental for Colombia's energy security. According to figures from the National Energy Plan (PEN) as of 2022, 65% of the country's final energy consumption corresponds to oil and gas derivatives, and specifically, 42% of the country's final energy consumption to liquid fuels. In the transportation sector, which includes land, air, river, and maritime mobility, nearly 97% of energy demand depends on liquid fuels.

The adequate supply of liquid fuels ensures economic stability, social well-being, and fundamental rights such as health, education, and work. It enables the operation of private vehicles, public and freight transport, airplanes, ships, and critical activities such as the transportation of food, medical supplies, and ambulances. Therefore, the distribution chain of liquid fuels is considered a public service, essential to guarantee the fundamental rights of Colombians and a pillar for energy security.

Liquid fuels also support 61% of the country's electricity matrix. Particularly, in April, October, and November 2024, liquid fuels sustained national thermal generation and avoided the risk of energy rationing. Additionally, they are essential in Non-Interconnected Zones (ZNI), ensuring energy in remote regions of Antioquia, Valle del Cauca, Cauca, Chocó, and Nariño, where their availability guarantees daily development and fundamental rights of the communities.