Welcome to our dedicated page for Ecopetrol news (Ticker: EC), a resource for investors and traders seeking the latest updates and insights on Ecopetrol stock.
Ecopetrol S.A. (EC), Colombia's leading integrated energy company, drives innovation across oil exploration, refining, and critical infrastructure development. This news hub provides investors and industry professionals with essential updates on operational milestones, financial performance, and strategic initiatives shaping Latin America's energy landscape.
Access authoritative coverage of Ecopetrol's core activities including hydrocarbon production updates, pipeline logistics advancements, and petrochemical innovations. Our curated collection features earnings announcements, partnership agreements, sustainability efforts, and regulatory developments directly impacting the company's market position.
Key updates include detailed analyses of exploration projects in strategic basins, refinery optimization progress, and infrastructure investments across electric power transmission networks. Track evolving strategies in energy transition initiatives and international market expansions through verified press releases and expert commentary.
Bookmark this page for real-time access to Ecopetrol's official communications and third-party analyses. Stay informed about critical developments affecting one of South America's most significant vertically integrated energy enterprises through our comprehensive news aggregation.
Ecopetrol S.A. announced the appointment of Ricardo Roa Barragán as the new CEO, effective by April 30, 2023. This decision was made during a Board of Directors meeting on April 11, 2023, following a thorough evaluation process supported by the Compensation, Nomination and Culture Committee and an international headhunting firm. Roa Barragán, a mechanical engineer with over 30 years of experience, has held key positions in the energy sector, including CEO of Grupo Energía de Bogotá. His leadership comes at a time when Ecopetrol plays a critical role in Colombia's energy landscape, managing over 60% of the country's hydrocarbon production and maintaining a strong international presence in strategic basins.
Ecopetrol S.A. announced on March 31, 2023, the composition of its Board committees following a recent meeting. The Audit and Risk Committee will be led by Luis Alberto Zuleta, while the New Business Committee will be chaired by Saúl Kattan. Other committees include the Corporate Governance and Sustainability Committee, led by Esteban Piedrahita, and the Remuneration, Nomination, and Culture Committee, presided over by Mauricio Cabrera. Additionally, the HSE and Technology and Innovation Committees will also have new leadership. These appointments are effective immediately, signaling a potential shift in corporate governance and strategic direction for the company.
Ecopetrol S.A. held its General Shareholders' Meeting on March 31, 2023, where significant decisions were made. Shareholders approved a historic total dividend of COP 593 per share, amounting to COP 24.38 trillion, to be distributed in three installments throughout 2023. The meeting also confirmed the election of the Board of Directors, with a 99.98% approval rate. Financial results from December 31, 2022, report revenues of COP 159.5 trillion and net income of COP 33.4 trillion, showcasing a 73.8% revenue growth. The firm Ernst & Young was appointed as the external auditor for the 2021-2025 term.
Ecopetrol S.A. (NYSE: EC) has been undergoing an administrative visit from the Superintendence of Industry and Commerce (SIC) in Bogotá, Colombia, starting March 30, 2023. The SIC's visit aims to assess potential infringements against competition regulations, although it is currently in a preliminary stage with no formal investigation or sanctions in place. Ecopetrol has expressed full cooperation during the SIC's inquiries, emphasizing its commitment to free competition. The company has refrained from disclosing specific details of the visit to maintain legal confidentiality. As the largest Colombian company, Ecopetrol contributes significantly to the hydrocarbon sector and energy production in the region.
Ecopetrol S.A. has filed its annual report under Form 20-F for the fiscal year ended December 31, 2022, with the U.S. Securities and Exchange Commission. This filing fulfills its obligations to the SEC, NYSE, bondholders, and investors. The report includes audited financial statements compliant with International Financial Reporting Standards (IFRS) for 2020, 2021, and 2022. Investors can request a hard copy of the financial statements. The 2022 Form 20-F is available online at the SEC website. Ecopetrol is Colombia's largest company, responsible for over 60% of the nation's hydrocarbon production, and is involved in various sectors across the Americas.
Ecopetrol S.A. announced on March 24, 2023, the appointment of Alberto Consuegra Granger as interim CEO, effective April 1, 2023. He brings over 30 years of experience in the energy sector, having joined the company in 2016 as VP of Supply and Services. The Board continues to seek a permanent CEO with assistance from an international headhunter. Ecopetrol is the largest company in Colombia, handling over 60% of hydrocarbon production and involved in multiple sectors including energy transmission and petrochemicals. The company has significant operations in the Americas and is subject to various market risks affecting future growth.
Ecopetrol S.A. (NYSE: EC) announced on March 24, 2023, that it is not pursuing an acquisition of Monómeros Colombo Venezolanos S.A. despite recent media speculation. This clarification aligns with its 2040 strategy and business plan. As the largest company in Colombia, Ecopetrol plays a crucial role in the energy sector, accounting for over 60% of the country’s hydrocarbon production. The press release also contained forward-looking statements about the company's growth prospects and investment plans, highlighting potential risks related to market conditions, oil prices, and the performance of the Colombian economy.
