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.
The CEO of Ecopetrol invites shareholders to an Extraordinary General Shareholders' Meeting on October 24, 2022, at 8:00 a.m. in Bogotá. The agenda includes safety guidelines, quorum verification, and the election of Board Members. The meeting will be streamed live on Ecopetrol's website, and shareholders unable to attend may use a proxy form available online. Strict compliance with attendance guidelines is advised, including health and safety measures against COVID-19.
Ecopetrol S.A. (NYSE: EC) has fully disbursed a USD 1.2 billion credit facility to facilitate the early repayment of its ISA Acquisition Loan. This payment totals USD 3.2 billion, leaving a balance of USD 472 million due in August 2023. The transaction, which adheres to necessary approvals, will not increase Ecopetrol's debt levels and is part of a broader debt management strategy aimed at reducing refinancing needs for 2023. Ecopetrol continues to hold significant positions in hydrocarbon production and energy transmission across the Americas.
Ecopetrol S.A. (NYSE: EC) announced that Moody's has affirmed its global credit rating at Baa3 with a negative outlook and downgraded its individual rating (BCA) from Ba1 to Ba3. Moody's believes Ecopetrol can meet its financial obligations amidst volatile crude oil prices, citing access to capital markets and a committed credit facility of USD 1.2 billion. The downgrade was influenced by upcoming debt maturities in 2023 and potential shifts in energy policies.
Ecopetrol S.A. (NYSE: EC) announced its withdrawal from electric energy commercialization, following the acquisition of 51.4% of Interconexión Eléctrica S.A. E.S.P. To meet its non-regulated energy demand, it signed a contract with Gecelca S.A. E.S.P. that extends until December 31, 2036. This competitive contract aims to optimize costs for the Ecopetrol Group's energy needs. The contract's pricing is based on domestic market energy costs, and execution will begin after regulatory procedures are finalized.
Ecopetrol S.A. (NYSE: EC) announced the successful drilling of the Gorgon-2 well, confirming the presence of gas in ultra-deep waters off the southern Colombian Caribbean coast. Located approximately 70 kilometers offshore, at a depth of 2,400 meters, this well reinforces previous gas discoveries in the region. Ecopetrol and Shell jointly explore this area, highlighting the potential for enhanced energy security and future gas exports, supporting Ecopetrol's energy transition strategy.
Ecopetrol S.A. (BVC: EC; NYSE: EC) announced record-breaking financial results for Q2 2022, reporting total sales of COP 43.9 trillion, a 125.7% increase from Q2 2021. Net income soared to COP 10.5 trillion, a 187.3% increase year-over-year. EBITDA reached COP 22.2 trillion with a margin of 50.6%. The results are attributed to high international crude oil prices and a strong commercial strategy. The company also achieved a decline in emissions intensity and continued its exploration efforts, particularly in gas and renewables, supporting its long-term energy transition goals.
Ecopetrol has announced the discovery of a significant natural gas accumulation in the Uchuva-1 exploratory well located in the Tayrona Block, Colombia. The well, drilled in deep waters, involves Petrobras as the operator (44.4% stake) and Ecopetrol (55.6% stake). This discovery aligns with Ecopetrol's 2040 energy transition strategy and enhances prospects for new exploration in the northern Caribbean region. The company plans to validate the gas accumulation's dimensions to further develop this find.
Ecopetrol S.A. (NYSE: EC) will disclose its second quarter 2022 financial and operating results on August 3, 2022, after market close. Two conference calls will be conducted on August 4: one in Spanish at 08:00 AM CO Time and 10:00 AM CO Time in English. Interested participants can access the webcasts and dial-in options via Ecopetrol's website. The company plays a critical role in Colombia's economy, producing over 60% of the country's hydrocarbons and holding significant positions in energy transmission and international exploration.
Ecopetrol S.A. announced the resignation of Mónica Jiménez as Vice President of Corporate Affairs, effective August 18, 2022. She will pursue a new opportunity outside the company. María Paula Camacho, with 24 years at Ecopetrol, will serve as interim Vice President in her place. Ecopetrol is a leading integrated energy company in Colombia and the Americas, responsible for over 60% of the country's hydrocarbon production. The announcement emphasizes ongoing leadership changes but lacks immediate financial impacts or strategic shifts.