Energy Advisor 2023-04-28 – Inter-American Dialogue

LATIN AMERICA ADVISOR

Energy ADVISOR

A daily publication Of the dialogue

April 28, 2023

What Will a New Chief Executive Bring to Ecopetrol?

Ricardo Roa on Monday became chief executive officer of Colombian state oil company Ecopetrol. // File Photo: @ricroabar via Twitter.

Q

Ecopetrol, Colombia’s majority state-owned energy company, on April 11 appointed Ricardo Roa as its new CEO following the departure of former company head Felipe Bayón at the end of March. Roa, who committed in a Twitter posting to a “fair and sustainable energy transition for the benefit of the entire country,” began in the position on Monday. Why was Roa tapped as the new CEO of Ecopetrol, and what will he bring to the role? What are Roa’s priorities for the future of the state-owned oil company? How well will Roa be able to work with the current government of President Gustavo Petro, who is looking to lessen Colombia’s dependence on oil and gas exports?

A

Cecilia Aguillon, nonresident fellow at the Institute of the Americas: “Ricardo Roa could help Ecopetrol design the blueprint for national oil companies in Latin America to make a sustainable and equitable energy transition. Roa was chosen to lead Ecopetrol because of his close alliance to President Petro, yes, but also because of his extensive experience in the energy sector leading power companies in Bogotá and abroad. Roa was likely involved in developing Petro’s energy transition agenda, which could help Ecopetrol execute the president’s goals. Part of decarbonization includes the electrification of transport and other sectors, which increases electricity demand. Aware of this, Ecopetrol has already started moving away from a sole focus on oil and gas and is becoming a power company as well by investing in electricity infrastructure and…”

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ABOUT THE Energy ADVISOR

A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.