The Permian deal Petro blocked Ecopetrol from doing in 2024 is now valued at billions in lost upside as Colombia's incoming government reopens the file.
Key Facts
—The deal. In 2024 Ecopetrol agreed to buy up to 30% of CrownRock’s Permian assets for about US$3.6 billion.
—The veto. President Petro blocked it on July 31, 2024, objecting to fracking, debt and sending money abroad.
—The board. Directors had approved it seven votes to two, and two later resigned over the reversal.
—The cost. One analysis puts the foregone upside at up to US$8.4 billion as Permian values rose.
La acción de Ecopetrol se estrella con la realidad. Ya borró medio año de entusiasmo
Ecopetrol Group receives payment for 100% of the FEPC account receivable balance for the second quarter of 2025
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