Ecopetrol SA shares plunged after Colombian President Gustavo Petro called on the oil producer to sell its operations in the US, citing his government’s position against fracking, which he says is destructive to nature and humanity.

Colombian President Gustavo Petro urged the sale of state oil firm Ecopetrol's fracking operations in the U.S. to fund clean energy investments in Colombia. This proposal was highlighted during a live cabinet meeting,

Colombia’s president made a strong and unexpected decision. He ordered Ecopetrol, the country’s government-controlled oil company, to cancel a major deal with a U.S.-owned company, Occidental Petroleum (Oxy).