Future of Colombia’s oil industry not threatened by energy transition, Ecopetrol CEO says

  • 📰 globebusiness
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The comments from Ricardo Roa were in response to a union statement which alleged executive decision-making is threatening the majority state-owned company’s future

Colombia’s oil and gas industry is not coming to an end due to the transition to cleaner energy, Ecopetrol CEO Ricardo Roa said on Tuesday, in response to a union statement which alleged executive decision-making is threatening the majority state-owned company’s future.

Last December, Ecopetrol said it would invest between 25.3 trillion pesos and 29.8 trillion pesos , with a focus on the transition to renewables and ensuring energy self-sufficiency. Petroleum industry workers union USO said in statement published on social media on Monday that Ecopetrol plans to cut its investment in exploration and production by more than 40 per cent, taking spending to $2.5-billion in 2024, down from $4.5-billion this year, threatening the company’s future.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 31. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines