Colombia president names Ecopetrol chief to oversee Magdalena investments

Colombian President De la Espriella has assigned Ecopetrol's president, Joaquín Gutiérrez, to oversee investments in the Magdalena department, calling him the 'godfather' of the region and citing a '100-year master plan' for Santa Marta. This marks a notable political move linking state oil company leadership to regional development, though specifics on funding and scope remain unclear. The initiative signals a strategic focus on regional investment but carries potential for political and operational friction.