In an unexpected move during a live broadcast of a cabinet meeting, Colombian President Gustavo Petro urged Agriculture Minister Andres Camacho to consider selling Ecopetrol's fracking operations in the United States to channel the proceeds into clean energy investments in Colombia.
I want this operation to be sold to invest in clean energy in Colombia, after thorough technical and economic deliberation, the leftist leader emphasized. He added, It cannot be that we are for death and not for life.
The cabinet meeting took place following Ecopetrol's recent announcement of an agreement in the U.S. Permian Basin in Texas. Ecopetrol, a predominantly state-owned entity, had previously walked away from a $3.6 billion deal last August to acquire assets in the Permian Basin from Occidental, whose primary government objective is transitioning the Andean nation away from fossil fuels.