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Ecopetrol faces a $30 billion USD debt and a looming national strike as the labor union demands the removal of President Ricardo Roa.

The oil and gas workers union called for the removal of Ecopetrol’s president following formal influence-peddling charges filed by Colombia’s Attorney.

The parties also agreed to allocate resources for social investment projects and energy transition forums.

To formalize an agreement announced last week, the heads of Ecopetrol and USO sat down yesterday to sign the deal.

The new deal with the Petroleum Industry’s Workers Union (USO) lasts through 2022. Workers will receive a raise of the inflation rate plus 1.21% in 2018 and inflation plus 1.7% in the next four years.

USO said this week that it had presented a proposal to Ecoptrol that included a request for higher salary and improved benefits for some 35,000 direct and contracted workers. 

Colombia’s largest company, state controlled Ecopetrol released video showing the unauthorized entry of USO (Union Sindical Obrera de la Industria del Petrolero) activists last Tuesday at the oil producer’s Pozos Colorados facility, on the Atlantic coast, south of...