Colombia evaluates 20M hectares for hydrocarbon exploration, half offshore

Colombia's government is assessing 19.8 million hectares for hydrocarbon exploration, with 9.73 million offshore in the Urabá, Sinú, and Guajira basins. This signals a potential policy shift toward expanding fossil fuel development, though no contracts have been awarded and environmental opposition is likely. The move could impact Colombia's energy investment outlook and regional oil supply.