Campetrol: from oil to renewable energies?

Regulation & Policy, Renewables    Jun 3, 2020 12:10 PM

The Association announced that it is evolving along with the oil industry, opening its doors to energy service companies.

Campetrol is a business association with more than 30 years of experience in the Colombian hydrocarbon sector, grouping 117 national and foreign companies through the offer of goods and services.

Starting this year, however, the Association approved a change in its statutes that allows it to open its doors to energy service companies, Prensa Libre Casanare said.

“Top global firms have decided to bet on renewable energy matters and companies of goods and services are migrating to energy service corporations. Today, we make the decision to strategically align our purpose with global trends and policies focused on the energy sector. Therefore, today we are an Oil, Gas and Energy Association,” Executive President, Germán Espinosa, said.

The Colombian government expects for its energy matrix to have at least 12% of its energy come from renewable energies (solar, wind, geothermal and biomass, among others) by 2030.

In addition, the Ministry of Mines and Energy (MinEnergia) has estimated that CoP$7.5T will arrive in the country with the incorporation of these unconventional sources of renewable energies.

Campetrol, however, made it clear that the oil industry continues to be fundamental in the global economic structure, but it is also a sector that is transforming and that must evolve in its context.

Bottom-line: Campetrol’s move only confirms that the world is changing, and different industries need to evolve with it.

Going from an oil and gas Association to an oil, gas and renewable energies Association is a big first step into synchronizing with Colombia’s environmental goals and commitments.

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