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. (NYSE: EC) is presented in its disclosures as the largest company in Colombia and one of the main integrated energy companies in the American continent. The news flow around Ecopetrol reflects its broad role in hydrocarbons, power transmission, road concessions, and its growing focus on renewable energy and energy transition.
News items for Ecopetrol commonly cover board of directors’ decisions, changes in committee composition, and appointments to key corporate roles, illustrating how the company manages governance across the Ecopetrol Group. Releases also describe collective bargaining processes and renegotiations of chapters of the Collective Bargaining Agreement with labor organizations, conducted under the Colombian Labor Code and overseen by the Ministry of Labor.
Another recurring theme in Ecopetrol’s news is its energy transition strategy. The company has reported the acquisition of a large solar project portfolio in Colombia and negotiations for additional solar photovoltaic projects, as well as the start of operations of the La Iguana Solar Farm to support refinery power needs and decarbonization efforts. These updates are linked to its 2040 strategy referred to as "Energy that Transforms" and to targets for self-generated renewable energy.
Operational and financial updates are also central to Ecopetrol’s news releases. The company publishes quarterly financial results, highlighting sales revenues, EBITDA, net income, production levels, transported volumes, and refining throughput, along with commentary on market conditions and efficiency programs. It also communicates investment plans across hydrocarbons, power transmission, roads, and energy transition projects.
Investors and observers who follow Ecopetrol news can use this page to monitor governance decisions, labor relations, strategic transactions, renewable energy initiatives, and periodic financial and operating performance updates, as disclosed by the company and furnished through its official channels.
Ecopetrol S.A. reported the approval of a total dividend of COP$280 per share during its General Shareholders' Meeting on March 30, 2022. This includes an ordinary dividend of COP$243 and an exceptional dividend of COP$37, amounting to approximately COP$11.5 trillion in total dividend distribution. Payments will be made to minority shareholders on April 21, 2022, while the majority shareholder will receive payment by September 30, 2022. The release also highlights Ecopetrol's significant role in Colombia's economy, representing over 60% of hydrocarbon production.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced that its ordinary General Shareholders' Meeting, held on March 30, 2022, approved a proposed amendment to the company’s Bylaws. The amendment will be solemnized and registered with the Commercial Registry, after which Ecopetrol will inform the public of this event. The approved text of the amendment can be accessed via a provided link. Ecopetrol is a leading energy company in Colombia, involved in hydrocarbon production, energy transmission, and operations in several countries across the Americas.
Ecopetrol S.A. (NYSE: EC) announced on March 17, 2022, that it had encountered false information from a now-deactivated website claiming that investing COP 960,000 in a cryptocurrency scheme titled 'Bitcoin Ecopetrol' would yield COP 20,000,000 in profits in one week. The company clarified that it has no affiliation with this scheme and has not authorized any investment opportunities related to cryptocurrencies. Ecopetrol emphasized that any claims regarding cryptocurrency investment schemes involving the company are false and unapproved.
Accenture, Ecopetrol, and Amazon Web Services have launched an innovative water intelligence and management solution to enhance sustainability within the energy sector. This cloud-based platform aims to address the entire water lifecycle, enabling energy companies to achieve water neutrality. The collaboration emphasizes reducing fresh water usage and promoting water reuse to optimize operational efficiencies. Ecopetrol targets a 66% reduction in fresh water capture and aims for zero surface water discharges by 2045, supporting its broader environmental strategy.
Ecopetrol S.A. reported strong financial results for Q4 and the full year 2021, with total sales reaching COP 31.8 trillion, up 123.8% year-over-year.
Net income soared to COP 6.1 trillion, a 1,298.6% increase, contributing to a record annual net income of COP 16.7 trillion, a rise of 455.3%. The EBITDA for 2021 was COP 42.0 trillion, marking a 149.2% increase, with an EBITDA margin of 46%.
The company also achieved a 200% reserves replacement ratio, with an average production of 679 mboed, highlighting its growth strategy amid a favorable market environment.
Ecopetrol S.A. has proposed a 2021 earnings distribution, highlighted by a total dividend of COP 280 per share, which includes an ordinary dividend of COP 243 and an extraordinary dividend of COP 37. The proposal also allocates COP 8,889,900,168,629 to an occasional reserve for sustainability. The total available to shareholders amounts to COP 20,402,574,681,884, reflecting a 69% payout ratio. This proposal will be voted on during the General Shareholders' Meeting on March 30, 2022.
The President of Ecopetrol S.A. invites shareholders to the General Shareholders' Meeting on March 30, 2022, at 9 a.m. in Bogota. Strict COVID-19 biosafety protocols will be followed. The meeting will cover key agenda items, including the approval of financial statements as of December 31, 2021, and the 2021 Management Report. Shareholders can participate via live streaming and are encouraged to pre-register. Proxy representation is allowed, with required documentation. For in-person attendance, vaccination proof and health measures are mandatory.
Ecopetrol S.A. (NYSE: EC) has announced the submission of bylaw amendments for consideration at its General Shareholders' Meeting scheduled for March 30, 2022. The company, Colombia's largest and a major energy player in the Americas, plays a crucial role in the country's hydrocarbon production, responsible for over 60% of it. The announcement details the amendments’ text, which is accessible online. As a leader in various energy sectors both domestically and internationally, Ecopetrol continues to navigate the complexities of market conditions while focusing on growth prospects.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has announced measures to enhance shareholder representation at the Ordinary General Shareholder's Meeting scheduled for March 30, 2022. The Board of Directors directed management to inform shareholders about proxy rights, appoint validators for proxy assignments, and ensure compliance with legal requirements. Employees are cautioned against influencing proxy selection or voting decisions. The General Secretary was appointed to oversee compliance with these measures, which aim to promote transparent shareholder participation.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) will release its financial results for Q4 and full year 2021 on March 1, 2022, after market close. Senior management will host two conference calls on March 2, 2022, at 08:00 a.m. and 10:00 a.m. Colombia Time for Spanish and English audiences respectively. Participants can access earnings details and webcasts via the company’s website. As Colombia's largest company, Ecopetrol accounts for over 60% of the country's hydrocarbon production and has significant operations across the Americas.
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