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Yesterday, the Colombian Superintendence of Industry & Commerce (SIC) issued resolution 12785 of 2020 authorizing the sale of Chevron’s(NYSE: CVX) interest in the Chuchupa and Ballena petroleum fields in La Guajira, Colombia to Ecopetrol  (NYSE: EC) subsidiary Hocol.

US based petroleum supergiant Chevron-Texaco (NYSE: CVX) and Colombia’s state controlled Ecopetrol (NYSE: EC, BVC: ECO) Subsidiary Hocol have announced the inking of a deal for Hocol to acquire Chevron’s 43% stake and operational responsibility in the Asociación Guajira project,...