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 Group (NYSE: EC) announced its proven reserves of oil, condensates, and natural gas as of December 31, 2024, reaching 1,893 MBOE, a slight increase of 10 MBOE from 2023. The company achieved a 104% reserve replacement ratio with an average reserve life of 7.6 years.
The Group incorporated 260 MBOE of proven reserves in 2024, the highest in three years, comprising 244.3 MBOE crude oil and 15.3 MBOE gas. Organic growth contributed 231 MBOE through new projects and enhanced recovery initiatives, while inorganic growth added 29 MBOE, including the acquisition of Repsol's 45% stake in the CPO-09 block.
The reserves were valued at a Brent reference price of USD 79.7/bbl, compared to USD 82.8/bbl in 2023. Of the total reserves, 80% are liquids and 20% are gas, with 89% located in Colombia and 11% in the United States.
Ecopetrol (NYSE: EC) has scheduled the release of its Q4 and full-year 2024 financial and operating results for Tuesday, March 4, 2025, after market close. The company will host a virtual conference call on Wednesday, March 5, 2025, at 9:00 AM (Colombia/NY time) to discuss the results.
The conference will be broadcast in both Spanish and English through a webcast platform where participants can submit questions. The earnings release, presentation slides, and conference recording will be available on Ecopetrol's website.
Ecopetrol is Colombia's largest company and a major integrated energy player in the Americas, employing over 19,000 people. It controls more than 60% of Colombia's hydrocarbon production and holds a 51.4% stake in ISA, with operations spanning energy transmission, real-time systems management, and highway concessions. The company also maintains strategic positions in drilling and exploration across the US, Brazil, and Mexico.
Ecopetrol (NYSE: EC) has successfully completed the acquisition of Repsol's remaining 45% stake in the CPO-09 Block for $452 million USD, achieving 100% ownership of this strategic asset in Colombia's Piedemonte Llanero. The transaction was finalized on February 5, 2025, following regulatory approval from the Superintendency of Industry and Commerce and the National Hydrocarbons Agency's formal amendment to the Hydrocarbon Exploration and Production Contract.
The CPO-09 block, located in Meta department across nine municipalities, strengthens Ecopetrol's position in the Llanos Orientales basin. This acquisition consolidates Ecopetrol's regional presence, where it already operates several key fields including Akacias, Chichimene, Castilla, and others. The deal reinforces the company's commitment to Colombia's energy future and highlights hydrocarbons' role in energy transition projects and national energy sustainability.
Ecopetrol (NYSE: EC) has announced an extension of its development plan with Occidental Petroleum (OXY) in the Permian Basin's Midland area. The agreement includes a drilling plan for 34 new wells between April 2025 and June 2026, supplementing the current development plan for early 2025.
For 2025, Ecopetrol Permian's plan for both Midland and Delaware sub-basins encompasses drilling approximately 91 development wells, with an estimated investment of $885 million and targeted average annual production of 90,000 barrels of oil equivalent per day. The companies maintain a separate contract for Delaware sub-basin development until 2027, with the possibility of future extensions subject to market conditions.
Ecopetrol (NYSE: EC) announced organizational changes approved by its Board of Directors on January 31, 2025, aligned with its '2040 Energy that Transforms' strategy. The restructuring aims to strengthen business line management, maintain competitive returns, and separate management from execution activities.
Key changes include: The Corporate Legal Vice Presidency's expansion to include General Secretariat functions, with María Cristina Toro Restrepo confirmed as Corporate Legal Vice President and General Secretary; Rafael Ernesto Guzmán Ayala's appointment as Executive Vice President of Hydrocarbons; and the renaming of Upstream Vice Presidency to Exploration, Development, and Production Vice Presidency, led by Juan Carlos Hurtado Parra.
Ecopetrol, Colombia's largest company, controls over 60% of national hydrocarbon production and leads in petrochemicals and gas distribution. Through its 51.4% stake in ISA, it operates in energy transmission and infrastructure across Latin America, with additional operations in the US, Brazil, and Mexico.
Ecopetrol (NYSE: EC) has submitted its annual Report on the Implementation of Best Corporate Practices ('Código País') to Colombia's Financial Superintendency, covering governance practices implemented throughout 2024. The report was digitally signed by the Legal Representative and is publicly available through both Ecopetrol's website and the Financial Superintendency portal.
As context, Ecopetrol stands as Colombia's largest company and a major integrated energy player in the Americas, employing over 18,000 people. The company controls more than 60% of Colombia's hydrocarbon production and holds dominant positions in transportation, logistics, refining, petrochemicals, and gas distribution. Through its 51.4% ownership in ISA, Ecopetrol has expanded into energy transmission, real-time systems management, and highway concessions. Internationally, it operates in strategic basins across the Americas and maintains leading positions in power transmission across several South American countries.
Ecopetrol (NYSE: EC) announces a significant legal victory as the Court of the Southern District of New York denied Chicago Bridge & Iron Company's request to vacate the June 2, 2023 arbitration award regarding the EPC Contract for Refinería de Cartagena (Reficar). The court's decision fully confirms the arbitration award, following a previous decision by the Court of the Netherlands on March 21, 2024, regarding CB&I's financial restructuring plan.
This ruling concludes a lengthy legal process where Reficar successfully defended its interests and those of its shareholders, including the Republic of Colombia. The dispute centered around the expansion and modernization of the Cartagena refinery, involving Reficar and CB&I entities.
Ecopetrol (NYSE: EC) has announced key changes in its senior management team. Walter Fabián Canova, Vice President of Refining and Industrial Processes, will end his employment on January 15, 2025, after seven years with the company. Felipe Trujillo López, current Vice President of Commercial and Marketing, will temporarily take over as Vice President of Refining and Industrial Processes.
Julio César Herrera will serve as interim Vice President of Commercial and Marketing starting January 15, 2025. Herrera brings over 30 years of oil and gas industry experience, having worked with ExxonMobile, BP, and Ecopetrol, most recently as General Manager of Ecopetrol US Trading.
Ecopetrol is Colombia's largest company and a major integrated energy player in the Americas, employing over 18,000 people. It controls more than 60% of Colombia's hydrocarbon production and holds a 51.4% stake in ISA, maintaining significant presence in energy transmission across Latin America.
Ecopetrol (EC) has announced a temporary agreement with JPMorgan Chase Bank N.A. to reduce the conversion cost for ADR transactions by 50%. This measure will be effective until July 10, 2025, aiming to benefit investors trading Ecopetrol's ADRs in the United States.
As background, Ecopetrol is Colombia's largest company and a major integrated energy player in the Americas, employing over 18,000 people. The company controls more than 60% of Colombia's hydrocarbon production and holds leading positions in petrochemicals and gas distribution. Through its 51.4% stake in ISA, Ecopetrol has expanded into energy transmission and infrastructure operations across Latin America, including Brazil, Chile, Peru, and Bolivia. The company also maintains strategic operations in the US Permian basin and Gulf of Mexico, Brazil, and Mexico.
Ecopetrol (NYSE: EC) has announced an agreement to acquire Repsol's 45% stake in the Exploration and Production Contract for Block CPO-09. The transaction's final closing is pending approvals from the Superintendence of Industry and Commerce and the National Hydrocarbons Agency (ANH). Ecopetrol, Colombia's largest company, controls over 60% of the country's hydrocarbon production and holds leading positions in petrochemicals and gas distribution. The company also owns 51.4% of ISA, maintaining significant presence in energy transmission across Brazil, Chile, Peru, and Bolivia.
