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Reuters

Reuters

Turmoil at Colombia's Ecopetrol raises profit fears ahead of US investment decision

Reuters
Summary
Nutrition label

76% Informative

Alleged interference by Colombian President Gustavo Petro fuels fears about Ecopetrol 's future profits.

Petro halted deal with Occidental to buy 30% of shale producer CrownRock in August .

President has said he wants to increase use of renewable energy and lessen reliance on fossil fuels.

CEO Ricardo Roa has denied accusations of poor management and said Petro does not meddle in company affairs.

Ecopetrol's joint operation with Occidental in Texas accounted in 2023 for a tenth of its earnings before interest, taxes, depreciation and amortization and much of the company's increased output in recent quarters .

If the company opts out of the deal, it could have a knock-on effect on Colombia 's economy.

VR Score

86

Informative language

93

Neutral language

26

Article tone

formal

Language

English

Language complexity

64

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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