03:41 PM EDT, 03/14/2024 (MT Newswires) -- Ecopetrol's ( EC ) governance committee issued a report saying the five board nominees of Colombia's President Gustavo Petro aren't qualified to run the state oil company, Bloomberg reported Thursday, citing an internal document.

Petro's candidates have no experience needed to run the company, according to the board document, the report said.

His nominees are expected to be elected at a March 22 shareholders' meeting as the government holds a large majority of Ecopetrol's ( EC ) stock, the report said.

Representatives of Ecopetrol ( EC ) declined to comment, while Petro's office didn't immediately respond to a message seeking comment, the report said.

Ecopetrol ( EC ) did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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