Latest news with #GustavoPetro
The Guardian
20 hours ago
- Business
- The Guardian
‘People think prison is for rehabilitation. It is all lies': could community service work better than jail?
The baby calls out, reaching towards a metal detector security gate. 'Mama, mama,' she says. A prison officer waves her through. It's visiting time at El Buen Pastor prison, Colombia's largest detention centre for women. Behind the black door, half a dozen women wait anxiously. Dressed in her best clothes, the mother folds herself around the child. Inside, the prison is crumbling. Black mould creeps up the walls; broken windows have been replaced with plastic sheets. Inmates say five to six people share cells built for two. 'It is terrible here,' says inmate Daniela Martinez. 'The conditions are horrible. Once you enter, you lose hope.' Colombia's female prison population has increased more than fivefold since 1991, largely driven by drug laws that disproportionately punish women. More than a third are imprisoned for drug-related crimes; many are minor players in the trafficking chain. The nation – which produces most of the world's cocaine – has long been plagued by the drug trade, which has fuelled organised crime and conflict and continues to flourish. Now Colombia's president, Gustavo Petro, is attempting a new approach – pivoting from punishment to rehabilitation. 'Colombia has been the best student of the global drug regime, and done pretty much everything we were told to do for decades,' says Laura Gil, Colombia's ambassador-at-large for global drug policy. 'Yet today, we have record production, record consumption and record narco trafficking. 'We need to put people at the forefront instead of prisons at the forefront,' she adds. A key reform is the Public Utility law, introduced in March 2023, to allow incarcerated women who are heads of their household and serving sentences under eight years to complete community service instead. It is granted primarily to women convicted of drug trafficking. At El Buen Pastor prison, Colombia's minister of justice Ángela María Buitrago Ruiz says a significant portion of female inmates are poor and from rural areas – where they are vulnerable to the cartels. 'Many of the women here have suffered from marginality. Although in many cases they have trafficked drugs, in many cases they also did not know what they were smuggling,' she says. 'We need to change the system. We need to protect women.' Inmate Martinez was sentenced to five years and four months after 10 kilos of marijuana was found in her home. 'I was tricked. I was asked to keep hold of it for someone, and then two hours later the police came,' she says. 'I was a mule.' Patricia Cortes, 23, is one of those who released under the scheme. She was freed on 17 September 2024, 11 months after she was first incarcerated for conspiracy to commit a crime, drug trafficking, manufacturing, or possession of narcotics. Cortes says that she had been photographed alongside her mother, who had started selling narcotics to escape poverty. 'Her motivation was our household needs: she had eight children, five of whom were minors, and my father had left,' she says. 'She needed the money.' Cortes says women bear the brunt of Colombia's drug crisis, with many coerced. In the prison chapel, the justice minister plays a video of an inmate leaving El Buen Pastor under the scheme. 'Please help us and give us women who are heads of household a second chance,' she says; the inmates watching cheer in response. 'People think and say that prison is where people are rehabilitated and educated, but it is all lies. In prison, everything is denied,' says Cortes, who gave birth to her son in jail. 'Many people leave prison worse than when they entered.' Only 143 women have been released so far – 99 of whom were charged with drug offences – despite the availability of more than 2,600 community service spaces. The justice ministry blames 'conservative judges' for stalling progress, while civil society leaders say the definition of 'marginality' has caused difficulties in court. 'We don't have high hopes for being released,' says Martinez. 'We are more useful outside than inside; here all we do is waste time. But we have seen how many of the requests have been denied.' Beyond the Public Utility law, Petro launched a 10-year drug policy in October that proposes to change the narrative around psychoactive substances, prioritise rural development, reduce coca crops, and help small farmers transition to the legal economy. In March, the Colombian government also led a historic resolution at the UN commission on narcotic drugs to suggest reforms for the existing 60-year-old system. Civil society leaders have criticised Petro's 10-year plan as lacking strategy. It also comes amid a deteriorating security situation that has left tens of thousands displaced, and prevents access to key coca cultivation sites. Local people, too, wonder if the policies go far enough. In a Bogotá neighbourhood long scarred by the drug trade, people say the root of the issue is poor education. 'There are no opportunities for children to get an education here,' says Monica Urbina, 39. 'They turn to drugs at 13, thinking it will give them a solution to their problem. Then they join the gangs. A lot of young people from our neighbourhoods are in jail or dead. The government needs to fix the schools first.' Martinez, who is applying for release under the Public Utility law, agrees that more action is needed. 'Drugs affect everything in this country – families, economy, work, social life,' she says. 'The government needs to work harder to break the chain.'
Yahoo
3 days ago
- Business
- Yahoo
Ecopetrol Drives Offshore Gas Exploration Despite Shell's Withdrawal
Ecopetrol S.A. EC, the Colombian majority state-owned energy company, has announced its plans to continue with the exploration of natural gas in the Caribbean deepwater even after its partner Shell plc SHEL exited Colombia. The London-listed energy firm confirmed its plans in April 2025 to withdraw from three offshore blocks in Colombia, thus quitting oil and gas exploration in the South American nation. This included the COL-5, Purple Angel, and Fuerte Sur blocks in Colombia, which it jointly operated with Ecopetrol. EC will continue exploratory drilling for natural gas in these offshore blocks, as they are believed to hold significant reserves with potential for commercial exploitation. A company spokesperson confirmed that Ecopetrol will proceed with the development of its gas resources, not only due to the heightened demand for gas in the country but also because these gas projects are expected to yield high returns. Notably, EC is banking on the rise in domestic demand for the commodity to increase production. Ecopetrol is currently focusing on the development of new gas resources, as Colombia's gas reserves are dwindling and the country is becoming more dependent on energy imports to meet its domestic needs. Despite progressing toward the development of new gas reserves, EC believes that the first output from the offshore wells isn't anticipated before 2029. Since taking office in 2022, Colombian president Gustavo Petro's administration has halted the issuance of new oil and gas exploration contracts. This is a setback for the country, as this means that upstream players will be required to utilize their existing assets to drive production and sustain output. Colombia's gas projects have also attracted attention from international players. Per a Bloomberg report, Petrobras had been eyeing possible acquisitions in the region, which also included the blocks that Shell had withdrawn from. EC had previously partnered with Petrobras for the exploration of new gas reserves in the country. The partners had made a breakthrough in 2024 with the drilling of the Sirius-2 well in the Gujaira Basin. The Sirius-2 well could significantly increase natural gas production in Colombia if its reserves are deemed economically viable. Zacks Rank & Key Picks Both EC and SHEL currently carry a Zacks Rank #4 (Sell). Some better-ranked stocks from the energy sector are Energy Transfer ET and RPC, Inc. RES, eachcarrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Energy Transfer is a midstream player that owns and operates one of the most diversified portfolios of energy assets in the United States. Boasting a pipeline network extending more than 130,000 miles, its network spans over 44 states. With a presence in all the major U.S. production basins, the company's outlook seems positive. RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. The company is strongly committed to returning value to its shareholders through consistent dividend payments and share buybacks, making it an attractive choice for investors seeking steady returns. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ecopetrol S.A. (EC) : Free Stock Analysis Report Energy Transfer LP (ET) : Free Stock Analysis Report RPC, Inc. (RES) : Free Stock Analysis Report Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India Today
3 days ago
- Politics
- India Today
Colombia surprised Tharoor. Does its pro-Pak stance have China link?
A friend of a friend also becomes your friend, the saying goes. It holds true in geopolitics as well. An example is Colombia, which has singed India by expressing condolences over the loss of lives (read terrorists) in Pakistan in India's Operation Sindoor. Colombia's move was vehemently deplored by Congress MP Shashi Tharoor as he visited the South American country as part of India's global outreach to expose Pakistan's role in why would Colombia, a country in far off South America that has been a victim of terrorism itself, side with terror-sponsor Pakistan? It shouldn't be too difficult to gauge if seen against the recent developments. Earlier in May, Colombia signed a joint cooperation plan under the Belt and Road Initiative (BRI), the ambitious connectivity project of China, Pakistan's "all-weather friend". It came as the country started leaning towards China on trade amid strained ties with the US under Donald Trump. Against the backdrop of these developments, little is left to imagination as to why Colombia, rather than sympathising with India following the Pahalgam terror attack, chose to mourn the loss of terrorists in THAROOR ON COLOMBIA'S PAK STANCEAt a press briefing in Colombia's capital Bogota, Tharoor did not hide his were a little disappointed in the reaction of the Colombian government... We will say to our friends in Columbia there can be no equivalence between those who dispatch terrorists and those who resist them. There can be no equivalence between those who attack and those who defend," the MP from Kerala spelt Lok Sabha MP, who is leading one of the seven delegations, made it clear that India could not have allowed the Pahalgam terror attack to go unanswered and underscored that under Operation Sindoor, only terror camps were targeted."Just as Colombia has endured many terror attacks, so have we in India. We are only exercising our right of self-defence. We are here to dispel any such misunderstanding," he further Tharoor was defending India in Colombia, his own party used the issue to attack the government back home."What is happening in foreign policy? A country like Colombia is standing with Pakistan. We will not ask which country stood with India?" Congress spokesperson Asma Tasleem tweeted. Colombian President Gustavo Petro with Xi Jinping in Beijing (AFP) COLOMBIA'S SHIFT TOWARDS CHINAWhile India and Colombia have a long history of diplomatic relations, with cooperation in trade and renewable energy, there seems to be a China link to the South American nation's pro-Pakistan President Gustavo Petro, the country's fiscal situation has worsened in recent years amid rising fuel and food costs. In 2024, GDP growth plummeted to 0.6% from 7.3% in top of that, Petro has crossed swords with Trump as his government leans towards China. He even called the US President "Donald Duck". That's quite a shift, because until recently, Colombia was one of America's closest trade and security trigger point was deportation flights from the US carrying alleged illegal Colombian immigrants. While Colombia initially denied entry to US military planes, viewing it as a sort of humiliation, it then sent its own aircraft to bring them home. The move came after Trump warned of hefty US DANCE IN TRUMP'S BACKYARDIn comes China, which moved swiftly to make Colombia part of its Belt and Road Initiative (BRI). Colombian Foreign Minister Laura Sarabia described the development as the country's "boldest step in decades".Beijing's China-Pakistan Economic Corridor (CPEC) is a part of the BRI, which aims to develop trade routes connecting China to the rest of the world. However, the US views it as China's bid to increase its sphere of China has surpassed the US as the biggest trading partner of several countries (Brazil, Peru, Chile) in Latin America, considered the US's backyard. Moreover, around two-thirds of Latin American countries have signed up to the Colombia now part of the BRI, China has also extended a welcome gift, proposing to sell two dozen Chengdu J-10CE 'Vigorous Dragon' fighter jets. The move is a familiar part of China's powerplay. Pakistan is also heavily dependent on China for its defence needs (it imports nearly 82% of its military hardware).Thus, in light of these developments, there's little left to guess why Colombia chose to side with China's "ironclad friend" Pakistan as tensions ran high with Watch
Reuters
3 days ago
- Business
- Reuters
Colombia oil and gas E&P investment could jump 8% in 2025, industry group says
BOGOTA, May 29 (Reuters) - Colombia's investment in exploration and production (E&P) of hydrocarbons could jump some 8% this year to reach $4.68 billion, Colombia's leading industry group said on Thursday, warning this would not prevent a drop in gas production. The Colombian Oil and Gas Association (ACP) said the resources would however, maintain the South American nation's current levels of crude oil production. Investment last year was $4.33 billion, according to the ACP. "Today more investment is required to produce the same amount of oil, due to the natural depletion of the fields and the complexity of the operating environment," ACP President Frank Pearl said. "For gas, we are not managing to either increase production or replenish reserves, which is double the challenge when it comes to energy self-sufficiency," he added. The ACP estimated that $740 million would be invested in exploration this year, while $3.94 billion would go toward production so the country can keep pumping between 760,000 and 770,000 barrels of oil equivalent per day, similar to the 772,000 boepd recorded in 2024. However, it predicted that gas output would decline to 905 million cubic feet per day, compared to 959 million cubic feet last year. Since coming into office in 2022, President Gustavo Petro has sought to reduce the country's dependence on fossil fuels, a major contributor to the nation's economy, and move towards solar and wind energy projects.
Bloomberg
4 days ago
- Business
- Bloomberg
Economists Are Ever More Gloomy About Colombia's Fiscal Outlook
Colombian economists are increasingly gloomy about the nation's fiscal outlook, with some predicting the biggest deficit since the pandemic this year. In recent weeks, analysts surveyed by Bloomberg have steadily lifted their 2025 deficit forecasts as tax revenues lagged expectations. At the same time, the government of President Gustavo Petro has declined to rein in spending on the scale needed, leading a Finance Minister to quit in March.
