'Don't talk nonsense,' says the oil union to Petro, giving him a quick lesson on 'fracking'

USO rejects statements by Gustavo Petro, president of the Republic, about Ecopetrol's bankruptcy. Photo: Private archive

'Don't talk nonsense,' says the oil union to Petro, giving him a quick lesson on 'fracking'

TL;DR

  • The USO union disputes President Petro's claim that Ecopetrol would face bankruptcy with oil prices below $60 per barrel.
  • The union states Ecopetrol's breakeven cost is around $50 per barrel, with lifting costs near $12.
  • USO argues that fracking, with lower carbon footprints and production of lighter crude, could benefit Ecopetrol and Colombia's energy security.
  • The union suggests that fracking could help Ecopetrol meet the Refinería de Barrancabermeja's need for light crude and address Colombia's natural gas deficit.
  • USO advocates for conducting fracking pilots based on scientific and technical data rather than fear.

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