Colombia's President Gustavo Petro has instructed state-run oil company Ecopetrol to cancel its joint venture with the US-based Occidental Petroleum (Oxy) due to environmental concerns. The venture, which involves the fracking method of oil extraction,

Colombian energy company Ecopetrol said on Monday it has reached an agreement to renew its oil joint venture with Occidental Petroleum in the U.S. Permian basin in Texas.

In a significant twist in Colombia’s energy narrative, state-owned petroleum firm Ecopetrol has announced that it has formally rechartered its oil joint venture with Occidental Petroleum (OXY) in the Permian Basin of Texas.

Colombian President Gustavo Petro on Tuesday called for the sale of state oil firm Ecopetrol's fracking operations in the United States to invest in clean energy.