Ministry of Finance says that the country will continue exploring and exploiting oil

The Minister of Finance, Ricardo Bonilla, said, when closing the 57th edition of the Asobancaria Banking Convention, that there are some contingent resources in oil matters for 2,300 million barrels that, if confirmed, would double the current 7.5-year reserves.

(See: Use of oil as fuel would drop from 2026).

He also assured that a gas reserves for 5,700 gigapies, which would also leave provisions for 20 or 25 years.

And he reiterated that the country will continue exploring and exploiting oil. Although it is worth clarifying that in the case of the explorations, it is not a question of new ones, but of continuing with what has already been assigned.

(See: ‘Without hydrocarbon reserves, energy transition is in danger’: USO).

He reaffirmed, as he has said several times, that we must create a new exportable offer that replaces the dependence on oil and coal and said that Colombia is a country with 100 years in which the syndrome of the monoexport.

(See: CAN exports grew by 19.5% in 2022).

He said that crypto assets are a financial reality “but we shouldn’t let them mess around anyway” and must guarantee the autonomy of the Bank of the Republic. And he added that an issue of currency other than the peso should not be made.

He assured that cryptocurrencies are a financial operation and the discussion opens about whether it should be a monitored activity by the Financial Superintendence.

(See: Ocampo’s proposal for the energy transition in the country).

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