A few days ago, in Houston, CERAWeek 2025 took place, one of the most influential energy summits in the world. It was an intense few days, with high-level debates about the future of energy and the role that each region is called to play in a context of growing demand, in energy transition processes, and through technological and innovation developments.
One of the most evident conclusions is that the world needs more energy, not less. While some countries are advancing in the incorporation of renewables, the reality is that the stability of supply still largely depends on hydrocarbons. Global industry leaders made it clear: the energy transition is necessary, but it must be orderly, sustainable, realistic, and, in any case, must guarantee supply and energy self-sufficiency.
In light of this, the big question is: where is Colombia in this conversation?
The Colombian Paradox
Colombia has been a key player in the energy security of the region, with an industry that has contributed to development, employment, and fiscal stability. However, at this moment we are at a crossroads. While the world recognizes the need to diversify, strengthen, and increase the production of all energy sources, in our country we are restricting supply and not being aware that the combination of different supply sources is essential for the Colombian energy matrix to be efficient.
Today, we face a decline in oil and gas reserves (7.1 years in oil and 6.1 in gas according to ANH data as of 2023), and we are failing to increase production (774 thousand barrels per day in oil and 964 million cubic feet per day in gas), a warning sign that we cannot ignore, especially since current oil reserves would lead to a production decline in the coming years, generating a deficit of 40 trillion pesos between 2017 and 2025, compared to the production projection of the Medium-Term Fiscal Framework.
Investments in exploration decreased by 27% last year, partly due to regulatory and fiscal uncertainty, but also due to a narrative that has blurred the strategic role of this industry in the energy transition.
It is not about opposing change, but about leading it with sensibility and firm steps. To pretend that we can or should do without hydrocarbons overnight is a mistake. It is these resources that, if well managed, can finance the transformation of the energy sector and ensure that millions of Colombians continue to have access to reliable energy. They should also be used to diversify and formalize regional economies and reduce social gaps.
At CERAWeek, it became clear that the countries that are best positioning themselves are those that understand the complementarity between different energy sources. The United States, for example, is leveraging innovation in technology, digitalization, and artificial intelligence to make its oil and gas production more efficient, while expanding its capacity in renewable energies and hydrogen.
Colombia has all the potential to be a key player in this transformation. We have resources in the subsoil, talent, infrastructure, and an industry that has demonstrated its capacity for adaptation and evolution. What we need is an environment that fosters investment, clear rules of the game, and a long-term vision that integrates sustainability with energy security.
The days of conferences and discussions within the framework of CERAWeek left one certainty: the world is not waiting. Countries that understand the reality of the energy market and act pragmatically will be the ones that guarantee their development and competitiveness in the coming decades.
Colombia must be part of this global conversation, not from the trench of ideological visions, but from strategic leadership seeking to strengthen regional economies. The industry is ready to contribute. It is time to build an energy policy that allows us to continue being protagonists in the region and not spectators of the development of others. The future of our energy cannot be decided in uncertainty. We need clarity, dialogue, and, above all, action.
By: Frank Pearl
Executive President of the Colombian Association of Oil and Gas (ACP)
Colombian Association of Oil and Gas