Ecopetrol S.A - EC STOCK NEWS

Fitch Ratings has maintained Ecopetrol S.A.'s (NYSE: EC) credit rating at BB+ with a stable outlook. The agency also reaffirmed the company's national long- and short-term ratings at 'AAA(col)' and 'F1+(col)', respectively. Fitch highlighted Ecopetrol's solid financial profile, strategic importance to Colombia, stable operating metrics, and access to capital markets. The potential acquisition of assets in the Permian Basin is not expected to significantly affect the company's credit profile.

Ecopetrol is Colombia's largest company and a major integrated energy player in the Americas. It dominates Colombia's hydrocarbon production, transportation, and refining sectors, while also holding leading positions in petrochemicals and gas distribution. The company has expanded internationally, with operations in the US, Brazil, and through its 51.4% stake in ISA, in power transmission across South America.

Ecopetrol S.A. (NYSE: EC) has announced the release date for its second quarter 2024 financial and operating results. The report will be published after market close on Tuesday, August 13, 2024. A virtual conference call to review the results will be held on Wednesday, August 14, 2024, at 09:00 a.m. Colombian Time (10:00 a.m. NY Time).

The call will be accessible via webcast in both Spanish and English. Participants can ask questions through the webcast platform. The earnings release, slide presentation, live webcast, and recording will be available on Ecopetrol's website. The company recommends using the latest versions of Internet Explorer, Google Chrome, or Mozilla Firefox for optimal webcast functionality.

Ecopetrol S.A. (NYSE: EC) is in negotiations with Occidental Petroleum Corp. (OXY) to potentially acquire a percentage of assets owned by CrownRock, a U.S.-based company. The exact percentage and price are still under assessment and subject to ongoing negotiations. Any final agreements, financing, and closing procedures will require statutory and regulatory approvals.

Ecopetrol, Colombia's largest company and a major integrated energy player in the Americas, operates across various sectors including hydrocarbon production, transportation, refining, petrochemicals, and gas distribution. The company also holds a 51.4% stake in ISA, expanding its presence in energy transmission and infrastructure.

This potential acquisition aligns with Ecopetrol's international expansion strategy, complementing its existing operations in strategic basins across the American continent, including the Permian basin and Gulf of Mexico in the United States.

Ecopetrol S.A. announced senior management changes effective July 1, 2024, following a board meeting on June 28, 2024. Sandra Lucía Rodríguez will head the Corporate Vice Presidency of Territorial Transformation and Health Safety and the Environment. Jaime Pineda will take over the Vice Presidency of Administration and Services. Germán González will continue as Secretary General and manage the Corporate Directorate of Institutional Relations and Communications. Javier Cárdenas will temporarily fill the role of Vice President of Finance and Sustainable Value following María Catalina Escobar's resignation.

Ecopetrol is Colombia's largest company and a major player in the American energy sector, with over 18,000 employees. It oversees 60% of Colombia's hydrocarbon production and holds significant positions in petrochemicals, gas distribution, and energy transmission, particularly through its 51.4% acquisition of ISA's shares.

Ecopetrol S.A. (NYSE: EC) announced the appointment of independent Director Gonzalo Hernández Jiménez to its Audit and Risk Committee by the Board of Directors on June 28, 2024. Hernández joins the committee, which includes Luis Alberto Zuleta Jaramillo (Chairman), Álvaro Torres Macías, Guillermo García Realpe, Angela María Robledo Gómez, and Juan José Echavarría Soto. Ecopetrol is Colombia's largest company, responsible for over 60% of the nation's hydrocarbon production, and it holds significant positions in petrochemicals and gas distribution. Internationally, Ecopetrol operates in energy transmission, real-time system management, and road concessions across the American continent. The company emphasizes its growth prospects and future performance based on market conditions and access to capital.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has completed the amendment of its bylaws, officially registered on June 18, 2024, following approvals from shareholders on March 22, 2024, and bondholders on May 29, 2024. Ecopetrol, Colombia's largest company and a major integrated energy player in the Americas, employs over 18,000 people and produces more than 60% of Colombia's hydrocarbons. The company has diversified operations including energy transmission, real-time system management, and road concessions through its majority stake in ISA. Internationally, it operates in strategic basins and the power transmission business across the Americas. The company highlights that its future projections depend on market conditions and other factors, subject to change without notice.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC), a leading energy company in Colombia, has received authorization from the Ministry of Finance and Public Credit (MHCP) to secure a loan of up to one trillion Colombian pesos (COP). The loan will be conducted with Banco de Bogotá (COP 642 billion), Banco de Occidente (COP 208 billion), and Banco Popular (COP 150 billion). The loan term is seven years, with a two-year grace period and repayment in ten equal semi-annual installments. The interest rate will be indexed to the IBR. This loan aligns with the company’s 2024 financing plan and will be used for non-investment expenses, including paying existing financial commitments. Ecopetrol highlights that the terms obtained demonstrate strong support from the financial sector.

Ecopetrol has announced organizational changes to align with its 'Energy that Transforms' 2040 strategy. The board of directors approved several adjustments during an extraordinary session on June 6, 2024, to enhance efficiency and agility. Major changes include renaming various vice-presidencies and merging others, such as the Health, Safety, and Environmental Vice-Presidency with the Vice-Presidency of Territorial and Sustainable Development into a new Corporate Vice-Presidency of Territorial Transformation and Health, Safety, and Environmental Matters. These adjustments aim to strengthen business management and streamline operations, effective July 1, 2024. Ecopetrol is a major player in Colombia's energy sector and has significant international operations. The company’s plans and projections are subject to market conditions, regulatory changes, and economic factors.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) held second-call ordinary bondholder meetings on May 29, 2024, for bonds issued in 2010 and 2013. These meetings, convened by Alianza Valores Fiduciaria and Itaú Fiduciaria Colombia, aimed to approve a statutory amendment endorsed by Ecopetrol's General Shareholders on March 22, 2024. For the 2013 bond issuance, a quorum of 59.92% was reached, with key votes showing over 86% approval. For the 2010 bonds, the quorum was 82.68%, but the amendment approval saw only 51.69% in favor. Overall, the statutory amendment was approved by 63.51% and 54.50% of the total principal amounts for the 2010 and 2013 issues, respectively. Ecopetrol, Colombia's largest company, is a key player in the energy sector with operations across the Americas, including exploration, transmission, and refining.