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 announced strong Q3 2021 results, showcasing total sales of COP 23.3 trillion, a net income of COP 3.8 trillion, and an EBITDA of COP 10.4 trillion. Notable growth in sales was 89.3% year-over-year. The company cites favorable crude oil prices, rising to USD 68.0 per barrel, and expanded production, notably reaching 683.6 mboed. With the acquisition of a controlling stake in ISA, the integrated energy company is well-positioned for future growth. Positive cash flow and advancements in exploration and production bolster the optimistic outlook.
Ecopetrol S.A. (NYSE: EC) will release its financial and operating results for Q3 2021 on November 9, 2021, after market close. Following this, senior management will host conference calls on November 10, 2021, with sessions in both Spanish and English. Participants can access these sessions via specified US and Colombian dial-in numbers. The earnings release and related materials will be available on Ecopetrol's official website, ensuring stakeholders have access to key financial information and future growth projections.
Ecopetrol S.A. (EC) announces the appointment of Nicolás Azcuénaga Ramírez as Corporate Vice President of Strategy and New Businesses, effective November 1, 2021. He replaces Juan Manuel Rojas and brings over 20 years of experience, particularly in the Oil & Gas sector. Azcuénaga has held key roles in financial management across multiple countries and was CFO for the Upstream Subsidiaries at Ecopetrol. His background includes significant transactions, enhancing the company’s strategic positioning in the market.
Ecopetrol S.A. (BVC: EC; NYSE: EC) announced a fine of COP $3,667,409,150 imposed by the National Environmental Licensing Authority (ANLA) on September 10, 2021. The fine resulted from the CPO09 Exploratory Drilling Area project in Acacías, Meta Department, where a bridge was built without proper environmental licensing. Ecopetrol respects ANLA's decision but will appeal for revocation, asserting compliance with legal regulations. The company, a leader in Colombia's energy sector, is involved in extensive hydrocarbon production and has international operations across various American basins.
Ecopetrol S.A. (NYSE: EC) has had its credit rating affirmed at Baa3 by Moody's, though the outlook has shifted from Stable to Negative. This change is attributed to increased leverage and refinancing risks related to a credit loan maturing in 2023. Despite these concerns, Moody's views Ecopetrol's recent acquisition of 51.4% in Interconexión Eléctrica S.A. ESP (ISA) as positive, expecting it to stabilize EBITDA and reduce carbon emissions relative to EBITDA moving forward.
Ecopetrol has successfully closed the acquisition of 51.4% of Interconexión Eléctrica S.A. (ISA) shares from the Colombian Ministry of Finance, fulfilling the conditions set in the August 11, 2021 contract. The total payment of COP 14,236,814,025,000 (about USD 3.67 billion) was executed at a price of COP 25,000 per share. This strategic move strengthens Ecopetrol's position in energy transmission and aligns with its commitment to energy transition, emphasizing decarbonization and diversification into low-emission sectors.
Ecopetrol S.A. announced that Standard & Poor's (S&P) has maintained its international long-term rating at BB+ and its individual credit rating at bbb-, with a stable outlook. The agency recognized the company's strategic importance to Colombia and its strong financial position within the oil and gas sector. Despite pandemic impacts, Ecopetrol has capitalized on opportunities along the value chain. S&P also commended the company's decarbonization goals and the ISA acquisition, which furthers its energy transition and diversification into regulated sectors.
Ecopetrol S.A. has received approval from the Ministry of Finance and Public Credit to secure a loan of up to US$4 billion for acquiring a 51.4% stake in Interconexión Eléctrica S.A. ESP (ISA). The loan will be sourced from major banks, including Banco Santander and Citibank, with a two-year maturity and an interest rate pegged at 3-month LIBOR + 80 basis points. This acquisition aligns with Ecopetrol's strategy to enhance its market presence. The positive response from financial institutions underscores confidence in Ecopetrol's financial health and future prospects.
Ecopetrol S.A. announces the signing of an Inter-administrative Share Purchase Agreement with the Colombian Ministry of Finance on August 11, 2021. Under this agreement, Ecopetrol will acquire 569,472,561 shares of Interconexión Eléctrica S.A. ESP (ISA), representing 51.4% of ISA's outstanding shares. The agreed purchase price is COP$25,000 per share. Following the announcement, Ecopetrol plans to conduct two conference calls on August 12, 2021, to provide additional details about the transaction and its implications.
Ecopetrol S.A. (NYSE: EC) has adopted the Financial Stability Board's Task Force on Climate-Related Financial Disclosures (TCFD) recommendations, enhancing its disclosure policies. The company released its inaugural specialized report for 2020, focusing on climate change risks and opportunities. This report addresses governance, strategy, risk management, and metrics. Ecopetrol is the largest company in Colombia, contributing over 60% to the nation's hydrocarbon production and operating in key international markets like the U.S., Brazil, and Mexico.
