Colombian president Gustavo Petro has ordered the state-run oil company Ecopetrol to cancel a joint venture with U.S.

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).