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. has proposed a 2021 earnings distribution, highlighted by a total dividend of COP 280 per share, which includes an ordinary dividend of COP 243 and an extraordinary dividend of COP 37. The proposal also allocates COP 8,889,900,168,629 to an occasional reserve for sustainability. The total available to shareholders amounts to COP 20,402,574,681,884, reflecting a 69% payout ratio. This proposal will be voted on during the General Shareholders' Meeting on March 30, 2022.
The President of Ecopetrol S.A. invites shareholders to the General Shareholders' Meeting on March 30, 2022, at 9 a.m. in Bogota. Strict COVID-19 biosafety protocols will be followed. The meeting will cover key agenda items, including the approval of financial statements as of December 31, 2021, and the 2021 Management Report. Shareholders can participate via live streaming and are encouraged to pre-register. Proxy representation is allowed, with required documentation. For in-person attendance, vaccination proof and health measures are mandatory.
Ecopetrol S.A. (NYSE: EC) has announced the submission of bylaw amendments for consideration at its General Shareholders' Meeting scheduled for March 30, 2022. The company, Colombia's largest and a major energy player in the Americas, plays a crucial role in the country's hydrocarbon production, responsible for over 60% of it. The announcement details the amendments’ text, which is accessible online. As a leader in various energy sectors both domestically and internationally, Ecopetrol continues to navigate the complexities of market conditions while focusing on growth prospects.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has announced measures to enhance shareholder representation at the Ordinary General Shareholder's Meeting scheduled for March 30, 2022. The Board of Directors directed management to inform shareholders about proxy rights, appoint validators for proxy assignments, and ensure compliance with legal requirements. Employees are cautioned against influencing proxy selection or voting decisions. The General Secretary was appointed to oversee compliance with these measures, which aim to promote transparent shareholder participation.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) will release its financial results for Q4 and full year 2021 on March 1, 2022, after market close. Senior management will host two conference calls on March 2, 2022, at 08:00 a.m. and 10:00 a.m. Colombia Time for Spanish and English audiences respectively. Participants can access earnings details and webcasts via the company’s website. As Colombia's largest company, Ecopetrol accounts for over 60% of the country's hydrocarbon production and has significant operations across the Americas.
Ecopetrol S.A. (NYSE: EC) has launched its 2040 strategy, titled "Energy that Transforms," outlining its operational and financial targets for 2022-2024. The plan emphasizes sustainable value generation and aims for net-zero emissions by 2050. Key initiatives include investing between USD 17 billion and USD 20 billion in domestic and international exploration, with a target of producing 730,000 barrels of oil equivalent per day by 2024. The firm also aims to enhance its gas supply, increase its market share, and achieve a cumulative EBITDA of USD 20 billion to USD 30 billion by 2040.
Ecopetrol Group's proven oil and gas reserves rose by 13% in 2021, reaching 2,002 MBOE. The Reserve-Replacement Ratio (RRR) stood at 200%, indicating robust reserve additions, with 462 MBOE incorporated throughout the year. The average reserve life has increased to 8.7 years, surpassing the previous figure in 2014. Proven gas reserves grew by 7.9%, with 89% of total reserves located in Colombia. The valuation used a Brent price of USD 69.2 per barrel. Notably, 99.5% of reserves were certified by independent firms.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has been fined by CORMACARENA for contaminating Caño Cacayal due to wastewater discharge from Campo Castilla. The fine amounts to twenty monthly minimum wages. Although the company acknowledges the decision, it plans to challenge the penalty as it was issued beyond the regulatory timeframe. Ecopetrol is Colombia's largest company, responsible for over 60% of the country's hydrocarbon production, and also holds significant interests across the Americas, including operations in the U.S. and Brazil.
Ecopetrol Group's 2022 investment plan, approved by its Board, allocates USD 4.8 to 5.8 billion towards sustainable growth and energy transition goals. The target production is set at 700-705 thousand barrels of hydrocarbons per day, with 63% of investments in exploration and production, focusing on enhanced recovery technologies. Significant funds, over USD 200 million, are earmarked for water management and decarbonization projects, while USD 1.1 billion is directed to energy transmission and toll roads. The plan aims for a Gross Debt/EBITDA ratio below 2.5 times, enhancing shareholder value.
Ecopetrol S.A. (NYSE: EC) reported that Fitch Ratings affirmed its credit rating at BB+ with a stable outlook, recognizing its strong financial position and liquidity. Fitch noted Ecopetrol's linkage to the Colombian government, which holds 88.5% of voting shares, highlighting the company's strategic importance to the country. Additionally, Fitch emphasized Ecopetrol's solid cash generation and access to capital markets as key strengths.
