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 extended its Exclusivity Agreement with the Colombian Ministry of Finance regarding the acquisition of a 51.4% stake in Interconexión Eléctrica S.A. (ISA) until August 31, 2021. The decision not to condition the acquisition on an equity offering is supported by improved financial conditions, allowing for a credit facility from international banks. Ecopetrol plans to continue exploring financing options for its energy transition strategy, including potential equity issuance and debt transactions.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reported operational challenges due to ongoing social protests in Colombia. In May, production was 651 mboed, with significant declines in gas and white products. The midstream segment faced high inventory levels, leading to reduced transportation volumes of refined products (224 mbd) and crude oil (716 mbd). The Barrancabermeja refinery processed 207 mbd, while national demand decreased for diesel (-33%), gasoline (-15%), and gas (-16%). Despite these issues, Ecopetrol believes its business plan targets for 2021 remain achievable, although future unrest poses ongoing risks.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced a downgrade of its credit rating by S&P Global Ratings from BBB- (negative outlook) to BB+ (stable outlook), following a similar downgrade of the Republic of Colombia. The company's Stand-Alone rating remains at bbb-. As Colombia's largest company and a key player in Latin America's oil and gas sector, Ecopetrol accounts for over 60% of the country's hydrocarbon production. The downgrade may impact investor confidence and access to capital.
Ecopetrol S.A. (NYSE: EC) has announced the retirement of Jorge Arturo Calvache, Vice-President of Exploration, effective June 1, 2021. The company expresses gratitude for his leadership over the past two years. Elsa Jeanneth Jaimes has been appointed as his successor, bringing over 29 years of experience, including her role as Vice President of Exploration at Hocol S.A. Ecopetrol, the largest firm in Colombia and a major player in the global oil industry, continues to expand its operations internationally. The company remains committed to its growth strategies despite market uncertainties.
Ecopetrol SA (BVC: EC; NYSE: EC) reported robust financial results for Q1 2021, achieving a net income of COP 3.1 trillion, reflecting a 139.3% increase year-over-year. Total sales rose by 14.2% to COP 17.2 trillion, driven by a strengthened crude oil export price. EBITDA surged by 55.7% to COP 8.2 trillion, with an EBITDA margin of 47.6%. The company highlighted its strategic initiatives in decarbonization and diversification, including a potential acquisition of a controlling stake in ISA. Cash position at the end of Q1 was COP 8.1 trillion, supporting ongoing growth plans.
Ecopetrol S.A. (NYSE: EC) has been sanctioned by the National Authority on Environmental Licensing (ANLA) due to non-compliance with environmental management plans during the construction of the Poliducto Andino project. The fine imposed amounts to COP$ 1,308,670,854, although this decision may be appealed as it is not final. Ecopetrol is a leading integrated oil company in Colombia and Latin America, involved in exploration and production across several countries, and operates the country's largest refinery and pipeline network.
Ecopetrol S.A. (NYSE: EC) will release its financial and operational results for Q1 2021 on May 4, 2021, after market close. A conference call will be held on May 5, 2021, with sessions in both Spanish and English. The Spanish call is scheduled for 8:00 a.m. Col Time, and the English call at 10:00 a.m. Col Time. Participants can access webcasts of the presentations through Ecopetrol's official website. The company is one of the largest oil firms, with significant operations in Colombia and the Gulf of Mexico.
Ecopetrol announced on April 21, 2021, the appointment of Luis Guillermo Echeverri as President and Carlos Gustavo Cano as Vice-president. The Board of Directors also approved the reconstitution of several committees: Compensation, Nomination and Culture; Technology and Innovation; Corporate Governance and Sustainability; and HSE. Echeverri will chair the Technology and Innovation Committee, while Esteban Piedrahita will lead the Corporate Governance and Sustainability Committee. These changes aim to strengthen leadership and enhance operational performance.
Ecopetrol S.A. has filed its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the U.S. SEC. This filing meets the company's reporting obligations to the SEC, NYSE, bondholders, and lenders. The report includes audited financial statements compliant with IFRS for the years 2018 to 2020. Ecopetrol is Colombia's largest firm, also active in the U.S., Brazil, and Mexico. The company operates significant oil infrastructure and is expanding its bio-fuels share. Investors can request free copies of the financial statements via email.
Ecopetrol S.A. held its General Shareholders' Meeting on March 26, 2021, where key decisions were made. Shareholders approved a dividend distribution of 17 pesos per share, scheduled for April 22, 2021. The company appointed its Board of Directors, including non-independent and independent representatives. Ernst & Young Audit S.A.S was chosen as the external auditor for 2021 and potentially for 2022. Furthermore, revisions to the company's bylaws were proposed for future ratification.
