Shares in Colombia's majority state-owned energy conglomerate Ecopetrol fell 2.20% in early trading to 2,005 pesos ($0.48) each on Wednesday after the country's President Gustavo Petro called for the company to sell its U.

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,

Colombia’s president made a strong and unexpected decision. He ordered Ecopetrol, the country’s government-controlled oil company, to cancel a major deal with a U.S.-owned company, Occidental Petroleum (Oxy).