08:34 AM EST, 12/20/2024 (MT Newswires) -- Occidental Petroleum's ( OXY ) joint venture with Colombia's Ecopetrol may be in jeopardy because of turmoil at the state-controlled energy company, Reuters reported Friday, citing interviews with current and former employees.

The report cited alleged interference by Colombia's President Gustavo Petro as well as governance problems amid staff purges at the company. In August, Petro blocked a planned $3.6 billion deal with Occidental to buy 30% of shale producer CrownRock over his opposition to fracking, Reuters reported.

Concerns about the firm precede a March deadline for the renewal or ending of Ecopetrol's joint venture with Texas-based Occidental, according to the report.

Occidental and Ecopetrol did not immediately reply to MT Newswires' requests for comment.

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