Economy

After spending five years and six months at the head of the largest company in Colombia, Ecopetrol, Felipe Bayon announced yesterday that he will leave the presidency of this as of next March 30. His decision appeared to some, but others saw it coming for some time, almost since when Gustavo Petro took over the reins of the country in August 2022.(Also read: What comes next for Ecopetrol with the departure of Felipe Bayón?) The positive results, with record profits, achieved during his tenure at the Colombian oil company, apparently, were not a reason for him to continue leading the…

As a result of the rise that energy rates continue to register in the country, President Gustavo Petro announced yesterday that, temporarily and directly, will not delegate its functions to the commissions for the regulation of public servicesat least for a time."I am going to assume control, the general administration policies of Colombia, directly and personally, based on what the Law itself says: first, the general interest and that of the user," he said.(You may be interested in: Political reactions to Petro's announcement about regular services) He assured that his decision is based on article 370 of the Constitution and…

Colombia sold to the world last year thermal coal, metallurgical coal and coke worth 11.7 billion dollars, thus doubling what was exported during 2021 and achieving a record, thanks to the best prices in the international market.(Also read: Oil: what is keeping crude oil prices up?) The figures are from the National Federation of Coal Producers (Fenalcarbón)which indicate that in thermal coal, the second export product, the country operated the 9,500 million dollars with more than 65 million tons.The union also showed that in crude metallurgical coal, the 15th export product, more than 2 million tons in volume were sold…

Although on October 27, 2022, after the arrival of the government of President Gustavo Petro, the board of directors expressed its support for the Ecopetrol management team and its president Felipe Bayón, in the meeting that was held yesterday the decision was made not to continue in office.He will be in charge of the oil company until March 31day on which the General Assembly of Shareholders is traditionally held each year.(Also read: Ecopetrol: how many resources will the oil company leave the Nation in 2023?) Bayón became President in September 2017 and was the one who led the transformation process…