At the opening of the Colombian Stock Exchange (BVC), Ecopetrol shares fell 7.06 percent to 2,184 pesos, while on the New York Stock Exchange the decline observed at this time is 8.13 percent and it trades on the 10.17 dollars the unit.
(Read also: The dollar continues to rise in Colombia, it is trading above 4,241.17 pesos)
This fall coincides with the words of the newly appointed Environment Minister, Susana Muhamad, who said on Blu Radio that “the door to fracking is closed” in the country.
“The door to fracking is closed in Colombia, we believe that going to look for the last remnants of gas generates more harm than good. We believe that fracking is not an alternative for a complex such as Colombian ecosystems. We must accelerate the energy transition”, the minister pointed out on the station.
On Friday, the state oil company’s stock rose 4.3 percent, while the general market gained 2.7 percent, according to the BVC’s main index, the MSCI-Colcap.
The decline in Ecopetrol’s share also coincides with the sharp drop experienced by the barrel of Brent oil, driven by fears of a global recession.
A barrel of crude oil for delivery in September fell more than 9 percent on the London futures market on Tuesday and hovered around 102 dollars for the first time since May, pressured by fears of a drop in demand due to the global economic slowdown.
The actions of the main oil companies on the planet were also being dragged down by this behavior and the price of crude oil. ExxonMobil shares fell 4.24 percent to trade above $83.84.
For its part, Chevron shares lost 3.93 percent, reaching a price of 140.74 dollars; BP shares were trading this Tuesday at 26.66 dollars, 5.71 percent below yesterday’s closing price, while Shell shares advanced a timid 0.46 percent in the London market, where they were listed. at 2,212.5 lbs.
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