• Aug 28, 2024

Ecopetrol Loses Two Board Members on Occidental Oil Deal Fallout

(Bloomberg) -- Two members of Ecopetrol SA’s board quit following the company’s decision to pull out of a $3.6 billion deal to buy a stake in Texas shale-oil assets from Occidental Petroleum Corp.Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsIntergenerational Housing Could Help Older Adults Combat LonelinessAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherA Loud Warning From the Past Abou

  • Aug 28, 2024

Ecuador's citizens voted to stop oil drilling in heart of Amazon. A year later, it hasn't happened

It's been a year since the people of Ecuador voted to halt oil drilling in a national park in the heart of the country's share of the Amazon, and nothing has been done to start shutting down operations. For supporters of the shutdown, that's not even the worst part: the government is now seeking a five-year extension for the state-run oil company to get out. The Waorani people, an Indigenous group whose territory overlaps Yasuni National Park, and others are frustrated by the lack of compliance with the referendum.

  • Aug 28, 2024

Oil retreats as demand concerns offset Libya supply risks

(Reuters) -Oil prices fell more than 1% on Wednesday on persistent concern over Chinese demand and elevated risks of a broader slowdown, though the decline was capped by potential supply losses from the Middle East and Libya. Brent crude futures were down $1.15, or 1.45%, at $78.40 a barrel by 1200 GMT. U.S. West Texas Intermediate crude futures fell $1.20, or 1.6%, to $74.33.