Colombia Front-Runner Petro’s No-More-Oil Pledge Sinks Ecopetrol Bonds
- Gustavo Petro wants to transition country from fossil fuels
- State oil company, sovereign bonds among worst performers
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Gustavo Petro, the front-runner to win Colombia’s presidential election in May, has repeatedly vowed he will halt oil drilling the day he takes office. To some observers, this is campaign bluster that would prove difficult to carry out in a country where oil is the No. 1 export.
But bond investors are taking him very seriously.