Reported 2 days ago
Ecopetrol has expanded its holdings in Colombia's prolific eastern plains by acquiring Repsol's 45% stake in the CPO-09 block for $452 million. The company aims to boost its oil and natural gas reserves amidst a challenging regulatory environment under President Gustavo Petro, who opposes new exploration licenses and fracking. Ecopetrol's strategy includes enhancing production in existing fields, exploring offshore opportunities, and maintaining its stake in U.S. operations despite governmental pushback.
Source: YAHOO