Welcome to our dedicated page for Ecopetrol S.A news (Ticker: EC), a resource for investors and traders seeking the latest updates and insights on Ecopetrol S.A stock.
Ecopetrol S.A. (NYSE: EC) is Colombia's largest and primary petroleum company, actively engaged in a diverse set of commercial and industrial activities within the energy sector. With operations spanning across the exploration, production, refining, and marketing of hydrocarbons, Ecopetrol also delves into the electric power transmission, road infrastructure projects, and telecommunications services. The company operates through four key business segments: Exploration and Production, Transport and Logistics, Refining and Petrochemical, and Electric Power Transmission and Toll Roads Concessions. The majority of its revenue is generated from the Refining and Petrochemical segment.
Founded as Empresa Colombiana de Petróleos S.A., Ecopetrol stands as a vital entity in Colombia's economy, responsible for over 60% of the nation's hydrocarbon production. Their influence extends to various international markets through strategic drilling and exploration operations in the United States, Brazil, and Mexico. The acquisition of a 51.4% stake in ISA has diversified Ecopetrol's operations into energy transmission and road concessions across several South American countries, including Chile, Peru, and Bolivia.
Recent developments include the approval of a financial restructuring plan for Chicago Bridge & Iron Company N.V. (
Rhea-AI Summary
S&P Global Ratings has changed the outlook for Ecopetrol's credit rating from stable to negative, in response to Colombia's credit rating outlook also changing to negative. The company's global rating is maintained at 'BB+' with an independent credit profile of 'bbb-', and no changes are expected in the next 12 months. Ecopetrol remains a significant player in the Colombian economy, but its rating will correlate to that of Colombia. The report issued by S&P on January 18, 2024, will be published in a future statement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.43%
Tags
-
Rhea-AI Summary
Ecopetrol S.A. issues a statement regarding the Arauca 8 well in Colombia, emphasizing the need for comprehensive analysis and evaluation tests before formal notification to the National Hydrocarbons Agency. The company is the largest in Colombia and a major integrated energy company in the Americas, with significant operations in hydrocarbon production, transportation, logistics, refining, petrochemicals, and gas distribution. The press release contains business prospect statements, operating and financial result estimates, and growth prospects. All projections are based on the managers' expectations and are subject to market conditions, regulations, competition, and the performance of the Colombian economy and the industry.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.34%
Tags
-
Rhea-AI Summary
Ecopetrol S.A. announces changes in senior management, including the resignation of several vice presidents and the appointment of new executives. The company expresses gratitude to the outgoing managers and provides an overview of its position as the largest company in Colombia and a leading energy company in the American continent. The press release also contains forward-looking statements about the company's growth prospects and financial estimates.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.76%
Tags
Rhea-AI Summary
Ecopetrol S.A. announced a tender offer for its outstanding 4.125% Notes due 2025. The offer commenced on January 9, 2024, and will expire on January 16, 2024. The Total Consideration for the Securities is $994.70 per $1,000 principal amount. The settlement date is expected to be January 19, 2024. The Offer is also conditioned upon the satisfaction of certain conditions and is being made in connection with a concurrent offering of New Notes by the Company.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.05%
Tags
-
Rhea-AI Summary
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports approval of amendment to the bylaws at the extraordinary general shareholders' meeting. The shareholders also approved other agenda items with high percentages of votes in favor. The amendment must be subject to formalities, including its registry before the Commercial Registry. Ecopetrol is the largest company in Colombia, responsible for over 60% of hydrocarbon production in the country. It also has a significant presence in the international energy market. The press release contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.09%
Tags
-
News
Rhea-AI Summary
Ecopetrol S.A. (EC) announced the commencement of a cash tender offer to purchase any and all of its outstanding 4.125% Notes due 2025. The offer is scheduled to expire on January 16, 2024, with the settlement date expected to be January 19, 2024. The Offer is being made in connection with a concurrent offering of notes (the 'New Notes') by the Company. The complete terms and conditions of the Offer are set forth in the Offer to Purchase and in the related Notice of Guaranteed Delivery.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.47%
Tags
Rhea-AI Summary
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced measures to ensure adequate shareholder representation at the upcoming extraordinary meeting. The company is the largest in Colombia, responsible for over 60% of hydrocarbon production and holds leading positions in various energy-related segments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.7%
Tags
-
Rhea-AI Summary
GeoPark Limited (GPRK) announces the appointment of a new CFO and provides an operating activity update in the Llanos Basin in Colombia. The company's 2023 exploration campaign adds 5,500 Bopd Gross and opens new drilling opportunities. The new CFO, Jaime Caballero Uribe, brings more than 25 years of industry and finance experience to GeoPark. The company's exploration campaign in 2023 delivered positive results with multiple new plays being opened, adding new appraisal and delineation activity.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.09%
Tags
-
Rhea-AI Summary
Ecopetrol S.A. (Ticker: EC) Calls Extraordinary General Shareholders' Meeting on January 10th, 2024
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.09%
Tags
Rhea-AI Summary
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) plans to invest 23-27 trillion pesos in 2024, focusing on profitable production, energy transition, and efficiency goals. The company aims for competitive returns and an EBITDA margin of 38%, with transfers to the Nation exceeding 38 trillion pesos.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.59%
Tags
FAQ
What is the current stock price of Ecopetrol S.A (EC)?
The current stock price of Ecopetrol S.A (EC) is $7.92 as of November 15, 2024.
What is the market cap of Ecopetrol S.A (EC)?
The market cap of Ecopetrol S.A (EC) is approximately 16.3B.
What does Ecopetrol S.A. do?
Ecopetrol S.A. is engaged in the exploration, production, refining, transportation, and marketing of hydrocarbons and their derivatives. The company also focuses on electric power transmission, road infrastructure projects, and telecommunications services.
What are the key business segments of Ecopetrol?
Ecopetrol operates through four main business segments: Exploration and Production, Transport and Logistics, Refining and Petrochemical, and Electric Power Transmission and Toll Roads Concessions.
How did Ecopetrol perform financially in the first quarter of 2024?
Ecopetrol reported a revenue of COP 31.3 trillion and a net profit of COP 4.0 trillion for the first quarter of 2024, showcasing its operational resilience despite global economic challenges.
What recent achievements has Ecopetrol made?
Recent achievements include the approval of a financial restructuring plan for CB&I N.V. and the distribution of dividends approved at the General Ordinary Shareholders' Meeting.
What initiatives is Ecopetrol undertaking to promote sustainability?
Ecopetrol is committed to sustainability, reflected in its reductions in greenhouse gas emissions and the launch of the first solar farm in a refinery in Latin America.
What international operations does Ecopetrol have?
Ecopetrol has strategic drilling and exploration operations in the United States, Brazil, and Mexico, and through its subsidiary ISA, it engages in power transmission and road concessions in several South American countries.
How many employees does Ecopetrol have?
Ecopetrol employs over 18,000 talented individuals.
What is the significance of Ecopetrol's acquisition of ISA?
The acquisition of a 51.4% stake in ISA has diversified Ecopetrol's operations into energy transmission and road concessions across several South American countries.
Who can I contact for more information about Ecopetrol?
For more information, you can contact Carolina Tovar Aragón, Head of Capital Markets, at investors@ecopetrol.com.co, or Marcela Ulloa, Head of Corporate Communications, at marcela.ulloa@ecopetrol.com.co.
What role does Ecopetrol play in Colombia's energy sector?
Ecopetrol is responsible for over 60% of Colombia's hydrocarbon production and plays a leading role in the nation's transportation, logistics, and refining systems.
Ecopetrol S.A