Oil Daily | Indigenous Consent Halts Colombia Drilling; Global Push Against Fossil Fuel Ads Grows

【Oil-Producing Countries Dynamics】

Ecopetrol and Petrobras are ordered to stop drilling the Uchuva-2 well due to Indigenous consent issues in Colombia. The country's reliance on natural gas imports is growing as domestic production drops. Colombia's oil and gas industry is struggling, with limited reserves and disappointing exploration results, amid a ban on new hydrocarbon exploration.

【Latest Oil Policies】

The Hague has become the first city globally to ban oil ads and those for energy-consuming industries, effective January 2025. This decision follows UN Secretary-General Antonio Guterres’ call to halt fossil fuel advertising, criticizing these industries for profiting amid the climate crisis.

London’s High Court overturned planning permission for a new coal mine, ruling it unlawful for not considering emissions from coal burning. The Labour government withdrew support for the project, aligning with a Supreme Court decision that such emissions must be considered, impacting future UK fossil fuel projects.

Australia announced a new National Hydrogen Strategy to develop a domestic green hydrogen industry and export capacity. Supported by substantial funding, the strategy aims to position Australia as a global leader by increasing production capacity and attracting significant private investment.