Ecopetrol S.A.: General Shareholders' Meeting Approves Amendment to Bylaws

Rhea-AI Summary

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced that its ordinary General Shareholders' Meeting, held on March 30, 2022, approved a proposed amendment to the company’s Bylaws. The amendment will be solemnized and registered with the Commercial Registry, after which Ecopetrol will inform the public of this event. The approved text of the amendment can be accessed via a provided link. Ecopetrol is a leading energy company in Colombia, involved in hydrocarbon production, energy transmission, and operations in several countries across the Americas.

Positive

• Approval of the proposed amendment to the Bylaws may enhance corporate governance and operational efficiency.
• Ecopetrol maintains a strong position in Colombia's energy sector, controlling over 60% of hydrocarbon production.

Negative

• None.

BOGOTA, Colombia, March 30, 2022 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that the ordinary General Shareholders' Meeting, held on March 30, 2022, approved the amendment to the Bylaws proposed by management.

Once the amendment is duly solemnized and registered before the Commercial Registry, Ecopetrol will notify the public of this event by this same means.

The text of the approved amendment can be consulted in the following link: https://files.ecopetrol.com.co/web/esp/cargas/aga2022/220330%20Bylaws%20Ecopetrol%20(2%20columnas).pdf  

Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 17,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. This press release contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects. These are all projections and, as such, they are based solely on the expectations of the managers regarding the future of the company and their continued access to capital to finance the company's business plan. The realization of said estimates in the future depends on the behavior of market conditions, regulations, competition, the performance of the Colombian economy and the industry, among other factors, and are consequently subject to change without prior notice.

This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements.

For more information, please contact:

Head of Capital Markets
Tatiana Uribe Benninghoff
Email: investors@ecopetrol.com.co

Head of Corporate Communications
Mauricio Téllez
Email: mauricio.tellez@ecopetrol.com.co

View original content:https://www.prnewswire.com/news-releases/ecopetrol-sa-general-shareholders-meeting-approves-amendment-to-bylaws-301514393.html

SOURCE Ecopetrol S.A.

FAQ

What was approved during Ecopetrol's General Shareholders' Meeting on March 30, 2022?

The meeting approved an amendment to the company's Bylaws.

Where can I find the text of the approved Bylaw amendment for Ecopetrol?

The text can be accessed via a link provided in the press release.

What is Ecopetrol's role in Colombia's energy sector?

Ecopetrol is the largest energy company in Colombia, responsible for over 60% of the hydrocarbon production.

How does Ecopetrol's international presence impact its operations?

Ecopetrol participates in strategic oil and gas operations in the U.S., Brazil, and Mexico, enhancing its market reach.