Colombia's president orders national oil company to cancel US venture over environmental concerns
Colombia's president orders national oil company to cancel US venture over environmental concerns
apnews.com
Colombia's president orders national oil company to cancel US venture over environmental concerns
Summary
Colombian President Gustavo Petro ordered state-run oil company Ecopetrol to cancel its joint venture with U.S.-based Occidental Petroleum (Oxy) over environmental concerns.
The $880 million project in the Permian Basin, set to produce 90,000 barrels per day, involved fracking, a practice Petro strongly opposes. He urged reinvesting in clean energy instead.
While Colombia bans domestic fracking, this marks the first time it has blocked an overseas fracking deal.
I find it deliciously ironic that a man named Petro has so much animosity for the petrochem industry.
Nominative un-determinism?
This is the first petrostate I feel like I can get behind.
Perhaps motivated a bit by Trump's recent bullying by threatening tariffs.