Colombia Eyes Fracking as Energy Crisis Looms

The Colombian government is considering hydraulic fracturing (fracking) as a means to reverse the country's declining oil and gas production. The move comes after years of opposition to fracking from previous President Gustavo Petro, who aimed to reduce Colombia's dependence on hydrocarbons.

New President Abelardo de la Espriella has put energy security back on the agenda, including fracking, despite concerns over environmental risks. Colombia's economy is under pressure due to a decline in oil and gas production, with revenue from exports falling 28% in the first half of 2026.

The country's hydrocarbon reserves are dwindling, with proven oil reserves falling nearly 1% year on year to 2.02 billion barrels at the end of 2025. Natural gas reserves have plunged 17% year on year to a multidecade low of 1.717 trillion cubic feet.

The introduction of fracking could restore Colombia's energy self-sufficiency and shore up its battered finances, with the country holding significant unconventional hydrocarbon potential. According to the U.S. Energy Information Administration (EIA), Colombia holds 6.8 billion barrels of technically recoverable shale oil and 54.7 trillion cubic feet of technically recoverable shale gas.