Ecopetrol S.A. (EC)

Colombia’s energy transition should be gradual, warns Ecopetrol chief

Colombia’s leftist government must make its planned transition away from fossil fuels a gradual one if it is to work, the outgoing chief executive of state-owned oil and energy company Ecopetrol has warned. “There is no substitution in which you can just flip a switch to turn one thing off and another on,” said Felipe Bayón in an interview with the Financial Times. Oil, gas and mining are vital to Colombia’s economy, together representing more than half of exports.