Campetrol transforms: Oil, Gas and Energy

This Campetrol release was published using machine translation.

Bogotá, May 29, 2020 - Within the framework of the general meeting of Campetrol affiliates, which took place virtually on Thursday, May 28, a change was approved in the statutes of the Chamber that today allows it to open its doors to energy service companies. The above represents a milestone for the union, with 32 years of experience representing oil goods and services companies in the country, considered the backbone of the industry for their contributions in innovation and technology. Today, the union has 117 affiliated companies.

“Colombia is a country that bets on the Energy Transition, and Campetrol is a union that seeks to evolve with the industry in this process. For more than 30 years we have been a chamber that groups and represents the oil goods and services companies in the country. Today we make the decision to strategically align our purpose with global trends and policies focused on the energy sector. For this reason, today we are Oil, Gas and Energy ”, expressed Germán Espinosa, Executive President of Campetrol.

Globally, Oil & Gas “majors” have committed to being integrated energy companies, and goods and services companies are migrating to energy service corporations. In Colombia, the National Government expects that in 2030, at least 12% of the energy matrix should be made up of non-conventional renewable energies (solar, wind, geothermal and biomass, among others). Furthermore, the Ministry of Mines and Energy has estimated that $ 7.5 billion pesos will arrive in the country with the incorporation of these unconventional sources of renewable energy.

In this context, the President of Campetrol indicated that the oil industry continues to be a pillar in the global economic structure, but it is also a sector that is transforming and that must evolve in its context. “In the transformation of the energy matrix towards renewable energies, the hydrocarbon sector must be a strategic ally to leverage this process. Gas is the transition fuel, and in Colombia we must urgently expand its reserves. Service companies should be an active part of this transition process, an opportunity to renew ourselves and be sustainable with a long-term horizon. "

Regarding the challenging situation that the oil sector is going through today worldwide, Espinosa also referred to the role of goods and services companies in reviving the sector: “Faced with the challenges facing hydrocarbon-producing countries today globally After the double price shock and the impact of COVID-19 on oil demand in 2020, oil and energy service companies play a key role in the process of reactivation and transformation of the sector. Technology and innovation at the service of the industry will allow us to turn the crisis into an opportunity, and thus contribute to the sustainable territorial development that the country so badly needs. ”

Today, the Campetrol brand, with more than 32 years of positioning in the hydrocarbon industry, remains in force, and begins its transformation by changing its slogan to "Oil, Gas and Energy".

About Campetrol

Campetrol is a business association with more than 30 years of experience working for the development and sustainability of the hydrocarbon sector in the country. It groups more than 110 companies with national and foreign capital that, through the supply of goods and services, enrich the value chain of the oil industry. Starting in 2020, the union opens its doors to energy service companies, evolving with the trends of Energy Transition globally.

The Chamber works for a better business environment for its associated affiliates, with an approach that privileges the highest objectives of the sector and the country around three fundamental axes: sustainable regional development, energy security and economic growth.