Ecopetrol S.A. has announced the resignation of Juan José Echavarría and Luis Alberto Zuleta from its Board of Directors, effective upon approval of the minutes from their last meetings. The resignations, announced on August 30, 2024, follow the Board's decision to not proceed with the acquisition of a 30% stake in the Crownrock Project from Occidental Petroleum, which was initially approved by the Board in May 2024. The decision to halt the acquisition came after Colombia's President Gustavo Petro expressed his disagreement with the project, citing concerns over fracking, increased leverage for Ecopetrol, and the allocation of Colombian resources abroad. The directors believe that the cancellation of the project will negatively impact Ecopetrol's future and its contributions to the Colombian economy. Ecopetrol is Colombia's largest company and a significant contributor to the nation's GDP through taxes, royalties, and dividends. The company also announced that the Board will continue to operate with its remaining members in accordance with regulations.

Ecopetrol S.A. has announced the resignation of Juan José Echavarría and Luis Alberto Zuleta from its Board of Directors, effective upon approval of the minutes from their last meetings. The resignations, announced on August 30, 2024, follow the Board's decision to not proceed with the acquisition of a 30% stake in the Crownrock Project from Occidental Petroleum, which was initially approved by the Board in May 2024. The decision to halt the acquisition came after Colombia's President Gustavo Petro expressed his disagreement with the project, citing concerns over fracking, increased leverage for Ecopetrol, and the allocation of Colombian resources abroad. The directors believe that the cancellation of the project will negatively impact Ecopetrol's future and its contributions to the Colombian economy. Ecopetrol is Colombia's largest company and a significant contributor to the nation's GDP through taxes, royalties, and dividends. The company also announced that the Board will continue to operate with its remaining members in accordance with regulations.