|
In a nationally televised speech, Petro said he opposed the
recent extension of a deal between Ecopetrol and Occidental
Petroleum, or Oxy, because it involved extracting oil through
fracking, a controversial technique used to extract oil and gas
from shale rock that has been criticized by environmental
groups.
“I want that operation to be sold, and for the money to be
invested in clean energies,” Petro said in a meeting with his
Cabinet that was livestreamed on social media. “We are against
fracking, because fracking is the death of nature, and the death
of humanity.”
Ecopetrol had announced on Monday it would renew its operations
with Oxy in the Permian basin, an oil producing region that
spans Texas and New Mexico, to develop 91 oil wells, investing
over $880 million.
Ecopetrol said its projects in the Permian basin produced an
average of 95,200 barrels of oil per day in the first nine
months of last year. Operations in the Permian basin made up
around 12% of Ecopetol’s total production last year.
Ecopetrol, controlled by the Colombian government but also
listed on the New York Stock Exchange, saw its shares rise 2% on
Tuesday following the announcement of its deal with Occidental.
However, they fell slightly after Petro called for the
agreement's cancellation.
Colombia has refused to approve fracking projects on its
territory, though it had not previously blocked Ecopetrol from
taking part in fracking ventures overseas.
Environmentalists argue that fracking can pollute water sources
and cause tremors
All contents © copyright 2025 Associated Press. All rights
reserved |
|
