Ecopetrol S.A. submitted the Report on the Implementation of Best Corporate Practices - "Código País" for FY2023

Rhea-AI Summary

Ecopetrol S.A. submitted the 'Código País' report, detailing corporate governance practices adopted and implemented in 2023. The report is available for viewing on the company's website and the Financial Superintendence of Colombia's website. The company is a major energy player in Colombia and the American continent, with operations in hydrocarbon production, transportation, logistics, refining, petrochemicals, and gas distribution. Ecopetrol also operates internationally, with investments in strategic basins and energy transmission in the United States, Brazil, and Mexico. The press release includes forward-looking statements related to business prospects and financial results, emphasizing that these are projections based on management's expectations and are subject to change based on market conditions, competition, and industry performance.

BOGOTA, Colombia, Jan. 30, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC), submitted today the Report on the Implementation of Best Corporate Practices – "Código País" - to the Financial Superintendency of Colombia. The report describes the corporate governance practices adopted and implemented by the company between January 1, 2023 and December 31, 2023. The Código Pais Survey was digitally signed by the Legal Representative.

For more information, please consult the report at the following link:

https://www.ecopetrol.com.co/wps/wcm/connect/c5534518-b801-419e-a263-052c5a4f7a96/reporte-codigo-pais-2023.pdf?MOD=AJPERES

Likewise, you may consult the report on the website of the Financial Superintendence of Colombia through the following link:

Financial Superintendence of Colombia (superfinanciera.gov.co) access route: Generate Report to File/2023/Public Entities/ Ecopetrol S.A.

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Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent with more than 18,000 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, and the performance of the Colombian economy and the industry, among other factors, and are consequently subject to change without prior notice.

For more information, please contact:

Head of Capital Markets
Carolina Tovar Aragón
Email: investors@ecopetrol.com.co

Head of Corporate Communications (Colombia) 
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co

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SOURCE Ecopetrol S.A.

FAQ

What is the 'Código País' report submitted by Ecopetrol S.A. about?

The 'Código País' report details the corporate governance practices adopted and implemented by Ecopetrol S.A. in 2023.

Where can the 'Código País' report be viewed?

The report is available for viewing on the company's website and the Financial Superintendence of Colombia's website.

What are the main operations of Ecopetrol S.A. in Colombia?

In Colombia, Ecopetrol is responsible for over 60% of hydrocarbon production, transportation, logistics, and refining systems, with leading positions in petrochemicals and gas distribution.

In which countries does Ecopetrol S.A. have international operations?

Ecopetrol has international operations in the United States, Brazil, and Mexico, with investments in strategic basins and energy transmission.

What does the press release mention about the future prospects of Ecopetrol S.A.?

The press release includes forward-looking statements related to business prospects and financial results, emphasizing that these are projections based on management's expectations and are subject to change based on market conditions, competition, and industry performance.