Ecopetrol S.A. and Refinería de Cartagena S.A.S. Execute Agreement with the Nation for the Outstanding Payment of the FEPC Corresponding to the First Quarter of 2025

Rhea-AI Summary

Ecopetrol (NYSE:EC) and Refinería de Cartagena executed a payment agreement with the Nation to settle the outstanding FEPC balance for Q1 2025 totaling COP 1.6 trillion (Ecopetrol: COP 1.2 trillion; Refinería de Cartagena: COP 0.4 trillion).

The Nation will pay COP 2.8919 billion by cash on April 1, 2026, and the remainder as Treasury Securities on December 15, 2026, with the Nation acknowledging time‑costs tied to the deferred December payment.

Positive

• Outstanding FEPC balance of COP 1.6 trillion
• Ecopetrol portion of COP 1.2 trillion
• Payment schedule includes TES on Dec 15, 2026

Negative

• Major portion of funds deferred until Dec 15, 2026
• Significant payment in treasury securities rather than cash
• Timing exposes Ecopetrol to time‑costs until payment

News Market Reaction – EC

+4.49%

13 alerts

+4.49% Session close to close

+2.2% Peak in 8 min

$31.82B Market Cap

0.1x Rel. Volume

In the Apr 2 session, EC gained 4.49%, reflecting a moderate positive market reaction. Argus tracked a peak move of +2.2% during that session. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details a formal agreement for the Colombian government to settle the FEPC balance...

Analysis

This announcement details a formal agreement for the Colombian government to settle the FEPC balance for Q1 2025, totaling COP 1.6 trillion, with COP 1.2 trillion attributable to Ecopetrol and a major TES installment of COP 1.55 trillion in December 2026. It reinforces recognition of the obligation and timing of inflows. In context of recent dividend and reserve decisions, investors may track execution of the payment schedule and any further updates on FEPC balances and fuel pricing policy.

Key Figures

Total FEPC balance Q1 2025: COP 1.6 trillion FEPC attributable to Ecopetrol: COP 1.2 trillion FEPC attributable to Reficar: COP 0.4 trillion +5 more

8 metrics

Total FEPC balance Q1 2025 COP 1.6 trillion Outstanding Fuel Price Stabilization Fund balance ordered for payment

FEPC attributable to Ecopetrol COP 1.2 trillion Portion of Q1 2025 FEPC balance owed to Ecopetrol S.A.

FEPC attributable to Reficar COP 0.4 trillion Portion of Q1 2025 FEPC balance owed to Refinería de Cartagena S.A.S.

Cash transfer amount COP 2,891,901,795.00 Payment on April 1, 2026 under FEPC agreement

TES payment amount COP 1,555,514,748,090.21 Treasury Securities payment scheduled for December 15, 2026

Stake in ISA 51.4% Ownership of ISA shares after acquisition

Employees more than 19,000 Ecopetrol Group headcount

Share of hydrocarbon production more than 60% Ecopetrol’s share of Colombia’s hydrocarbon production

Historical Context

5 past events · Latest: Mar 30 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 30	Shareholder meeting decisions	Positive	+0.1%	Shareholders approved 2025 reports, dividend and large occasional reserve.
Mar 25	Board statement	Neutral	+2.3%	Board of Directors issued a general statement without detailed financial metrics.
Mar 12	Legal-related statement	Neutral	+2.9%	Company commented on a decision by the Attorney General's Office.
Mar 05	ESG/climate disclosure	Neutral	+8.8%	Published 2025 social and environmental chapter under regulatory disclosure rules.
Mar 04	Earnings distribution proposal	Positive	+8.8%	Board proposed 2025 earnings distribution and large reserve for sustainability.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent headlines have generally seen price moves aligned with the tone of news, with no clear pattern of selling into positive announcements.

Recent Company History

Over the past month, Ecopetrol has released several governance and capital allocation updates. On Mar 4, it outlined the 2025 earnings distribution proposal with significant net income and reserves, followed by a social and environmental disclosure chapter on Mar 5. The General Shareholders’ Meeting decisions were reported on Mar 30, including an ordinary dividend. These events, along with board statements, mostly coincided with positive price reactions, framing today’s FEPC payment agreement as part of ongoing balance sheet and policy management.

Key Terms

fuel price stabilization fund, treasury securities (tes), forward-looking statements, u.s. securities exchange act of 1934, +1 more

5 terms

fuel price stabilization fund financial

"ordered the payment of the outstanding balance of the Fuel Price Stabilization Fund ("FEPC")"

A fuel price stabilization fund is a government-managed pool of money used to smooth sudden swings in fuel prices by subsidizing costs when prices spike or collecting extra when prices fall, acting like a shock absorber for consumers and the economy. Investors care because it can change company fuel costs, consumer spending, inflation and government budgets — all of which affect corporate profits, sector margins and sovereign credit risk.

treasury securities (tes) financial

"Treasury Securities (TES) issued by the Republic of Colombia"

Treasury securities are debt instruments issued by a national government to borrow money—short-, medium- or long-term IOUs such as bills, notes and bonds that pay interest and return the original amount invested at maturity. They matter to investors because they are widely viewed as among the safest assets, set the baseline for interest rates across markets, and help determine expected returns and risk for other investments; think of them as a government-backed anchor in a portfolio.

forward-looking statements regulatory

"This release contains statements that may be considered forward-looking statements within the meaning"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

u.s. securities exchange act of 1934 regulatory

"and Section 21E of the U.S. Securities Exchange Act of 1934, as amended"

A U.S. federal law that acts as the rulebook for trading and reporting by public companies, securities exchanges and market participants; it created the agency that enforces those rules. It requires ongoing public disclosure of financial results and major events, sets standards to prevent fraud and insider trading, and governs how markets operate—think of it as the referee and scorekeeper that helps investors see reliable, timely information and trust the fairness of the market.

hydrocarbon technical

"it is responsible for more than 60% of the hydrocarbon production"

Hydrocarbon is a molecule made only of hydrogen and carbon atoms that forms the basis of fuels like oil, gasoline and natural gas as well as many industrial chemicals. Think of hydrocarbons as the raw energy “logs” and building blocks the economy burns or transforms into products; their abundance, quality and price directly affect company revenues, exploration value and investment risk, including exposure to regulatory and environmental costs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BOGOTÁ, Colombia, April 2, 2026 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that:

1. Through Resolutions 00368 and 00369 dated March 31, 2026, the Hydrocarbons Directorate of the Ministry of Mines and Energy ordered the payment of the outstanding balance of the Fuel Price Stabilization Fund ("FEPC") for the first quarter of 2025, for a total amount of COP 1.6 trillion, of which COP 1.2 trillion is attributable to Ecopetrol S.A. and COP 0.4 trillion is attributable to Refinería de Cartagena S.A.S.
   
   
2. Ecopetrol S.A., Refinería de Cartagena S.A.S., and the Government of the Republic of Colombia (the "Nation"), represented by the Ministry of Finance and Public Credit, have entered into a payment agreement under which the Nation undertakes to pay the outstanding balance of the FEPC account corresponding to the first quarter of 2025. The payment is expected to be made in accordance with the terms set forth below:
   
   

   Payment Date	Amount (COP)	Payment Method
   April 1, 2026	2,891,901,795.00	Cash transfer
   December 15,2026	1,555,514,748,090.21	Treasury Securities (TES) issued by the Republic of Colombia

3. Under this agreement, the Nation acknowledges in favor of Ecopetrol S.A. and Refinería de Cartagena S.A.S. the cost associated with the time elapsed between the execution of the agreement and the payment scheduled for December 2026.
   
   
4. Additionally, this agreement confirms the Nation's acknowledgment of its payment obligation and highlights the joint efforts of Ecopetrol and the Government.

The Ecopetrol Group continues to work in close coordination with the Ministries of Finance and Public Credit and of Mines and Energy — the authorities responsible for fuel pricing policy — in the implementation of payment mechanisms and the reduction of FEPC balances.

Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector.

This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements. 

For more information, please contact:

Investor Relations Office
Email: investors@ecopetrol.com.co

Head of Corporate Communications (Colombia)
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co

 

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SOURCE Ecopetrol S.A.

FAQ

What amount will Ecopetrol (EC) receive from the FEPC Q1 2025 settlement?

Ecopetrol is set to receive COP 1.2 trillion from the FEPC Q1 2025 balance. According to the company, this amount is part of a total COP 1.6 trillion settlement shared with Refinería de Cartagena, with specific payment dates and methods agreed.

When will Ecopetrol (EC) get paid for the FEPC Q1 2025 outstanding balance?

Payments are scheduled on April 1, 2026 and December 15, 2026. According to the company, an initial cash transfer occurs in April and the remainder will be paid via TES on December 15, 2026.

What payment methods did the Nation agree to for EC's FEPC Q1 2025 balance?

The Nation will use a cash transfer and treasury securities (TES) for the balance. According to the company, the April payment is cash and the larger December payment will be made with TES issued by the Republic of Colombia.

How much of the FEPC Q1 2025 total is being paid in treasury securities for Ecopetrol (EC)?

The larger December installment will be paid in Treasury Securities (TES) totaling COP 1,555,514,748,090.21. According to the company, that TES amount covers the bulk of the COP 1.6 trillion FEPC balance.

Does the agreement acknowledge costs related to delayed FEPC payment for Ecopetrol (EC)?

Yes, the agreement acknowledges time‑costs between execution and the December 2026 payment. According to the company, the Nation recognizes those costs in favor of Ecopetrol and Refinería de Cartagena.

What is the total FEPC Q1 2025 outstanding amount confirmed with the Nation for Ecopetrol (EC)?

The total outstanding FEPC amount confirmed is COP 1.6 trillion for Q1 2025. According to the company, COP 1.2 trillion is attributable to Ecopetrol and COP 0.4 trillion to Refinería de Cartagena under the agreement.