Paloma Valencia blames former Ecopetrol chief Ricardo Roa for company’s decline

Paloma Valencia, former Democratic Center legislator, accused former Ecopetrol president Ricardo Roa of damaging Colombia’s state oil company. She said, “If the company really hurt him, he would have resigned years ago,” and added that Roa’s tenure reduced financial results, harmed the firm’s reputation and allowed corruption to grow. Valencia described Ecopetrol as left “starved and emaciated,” calling Roa’s public apologies “crocodile tears.”

Roa had apologized, claiming personal circumstances distracted him from managing the company. Valencia linked the firm’s troubles to policies pursued under President Gustavo Petro, such as limiting new exploration contracts and importing gas from Venezuela, which she says weakened Ecopetrol’s previous solidity.