The USO increases pressure on Ecopetrol: warns of "catastrophic" risk and insists on demanding Ricardo Roa's departure
The tension surrounding Ecopetrol intensifies. The president of the Unión Sindical Obrera, Martín Ravelo, issued one of the strongest warnings yet: the company could face a "catastrophic" scenario if immediate decisions are not made regarding its leadership and institutional stability.
TL;DR
- The USO warns of a "catastrophic" scenario for Ecopetrol if immediate decisions aren't made on leadership and institutional stability.
- The union demands the removal of Ricardo Roa, citing critical reputational impact and potential cash flow problems.
- A severe reputational deterioration could alert international markets and creditors, given Ecopetrol's approximately $30 billion debt.
- Institutional stability is deemed essential for financial stability, especially as Ecopetrol is listed on the New York Stock Exchange.
- The USO urges the board to act independently and not wait for government changes, warning against executive influence.
- The union is seeking dialogue with President Petro but stresses decisions lie with the board, not the government.
- Escalation of actions, including permanent assemblies, rallies, and potential impacts on production, are not ruled out.